X
etsos

Free trial Sign-up

Please leave your name and email and we'll be in contact shortly.

Name

Company

Contact Number

Email

Please complete the sum:        
19 + 4 =

What to do when there is a Chancel Repair Liability on the title deeds…

24th January 2014

There is a common misconception that Chancel Repair Liability (CRL) ended on 12th October 2013. This is not the case; if the liability has already been registered it is an obligation that lasts in perpetuity.

  • Chancel Repair Liability will still affect properties that transact post the 12th October 2013. As only 5% of properties transact in the UK every year, this leaves 95% of properties still vulnerable after year 1. (Please note that this 5% is not all new properties, as many are re-transacted in following years).
  • The liability only falls away at the point of first or next registration of a title after 12th October 2013.
  • The liability is only removed after a property has transacted for valuable consideration (i.e. not for a nominal amount or by way of inheritance/gift etc.).

In some cases, where CRL has already been registered on the title deeds, traditional chancel insurance is not available. In such cases, bespoke policies must be arranged. Through CLS, ETSOS offer firms direct access to industry leading underwriters, offering a range of standard and bespoke title indemnity policies for residential and commercial transactions.

For more information on this please contact your ETSOS account manager, or speak to us directly on 01524 220000.

The client and experts view...

  • thumb1
Latest newsspeech Bubble

Additional penalties for AML failures announced

HMRC have announced they will now levy a Penalty Administration Charge in addition to any penalty imposed for failure to comply with anti-money laundering regulations. (more…)

What do ID documents tell us?

Customer Due Diligence (CDD), which forms part of Know Your Customer or KYC, is an important tool in the estate agent’s armoury when it comes to fulfilling their obligations under the Money Laundering Regulations. (more…)

Residential Abortive Transaction Insurance

ETSOS are delighted to announce a tie up with insurance brokers Northcott Beaton to provide their residential abortive transaction insurance.  (more…)

Is a passport enough for AML? Blog 3

The Money Laundering Regulations 2017 require estate agents to risk assess their business relationships and apply an appropriate level of investigation to ensure that they understand who their customer is, and why they are involved in the transaction. (more…)

Is a passport enough for AML? Blog 2

The Money Laundering Regulations 2017 require estate agents to risk assess their business relationships and apply an appropriate level of investigation to ensure that they understand who their customer is, and why they are involved in the transaction. (more…)

divider
newsletter sign-up

Sign up for our e-newsletter

Name
Company
Email Address
trialTop

trial sign-up

Click the Apply button opposite to use our software on a trial basis...

trialBottom
  • etsosnews

  • etsosnews

  • Linkedin Twitter Facebook
    This site uses cookies. Find out more about this site’s cookies.