English Conveyancing System - Posted by Kal

Posted by Lisa in Oz on June 12, 2000 at 03:18:26:


English Conveyancing System - Posted by Kal

Posted by Kal on June 11, 2000 at 11:45:59:

Im a realtor and Investor here in UK, and have studying the ways that you buy and sell and coveyance property over in the USA.

It amazes me how you can actually get away with transactions like Quit claims deed and warranty deed tranfers ,wrap around mortgages etc, which is illegal here.

Once you have a deed this is held by the bank until you pay off your debt. Thats it. No promissory note here, as you understand it is available. You cant go around ‘passing off’ liablities just becuase your circumtances change as this would be open to abuse and fraud (potential).

Lease options is another one, here if a tenant paid for eg; 5% as deposit with intention to buy the house within 2 years lets say. The landlord or who ever has the deed could run with the deposit and not pay a penny towards the mortgage payemnts!!. This is how the Brits would think of it. Maybe we are cynics?

If I could do only half of what you do there , I would be VERY happy and,a rich man!! :slight_smile: Lucky S>O>B’s !!

It certainly is a Land of Oppotunity over there!!

All the best. Bye the way can anyone Quit claim deed their Porsche? :)))


Re: English Conveyancing System - Posted by chris

Posted by chris on June 12, 2000 at 05:51:47:


I don’t know a thing about RE in England, but thought you might want to know that more than a few U.S. Realtors and others will tell you that Lease Options, etc. are illegal in the states also;-} We call it rent skimming when you collect money from a tenant and don’t pay the mortgage-illegal here is the states.

Some U.S. states use a Deed of Trust where a third party(trustee) holds title until payed off.

Do you have a lot of Real Estate “gurus” who teach creative investing over in the UK?



Re: English Conveyancing System - Posted by GL

Posted by GL on June 11, 2000 at 17:22:50:

Canada is similar. I could make twice the money with half the work in the USA as I can here.

By the way,the oldest example of a ‘No money down’ real estate purchase that I know of was in England. Done by Thomas de Quincy about 1820-1830.