Indemnity Insurance

[Pink595]

Hi
Have had an offer accepted on a property but there has been a muddle in the conveyancing 50 years ago and there is no clear right of way over a private road. We know who owns the road. We are being asked to accept an indemnity policy for absence of easement but are not really comfortable with this. The property is costing £575K. Should we just walk away?

 

[diyhelp]

Seems like a mess but this is what indemnity policies are for? As long as the indemnity is legally tight - check with a solicitor - this may not be the end of the world. Also, you might be able to negotiate a reduction as a consequence of the confusion and "potential risk".

 

[Longterminvestor]

Bearing in mind you are investing more than £500,000, this is not a risk I would be willing to take. This has all the makings of a legal mess.