Solicitors advice needed

[Movinbaby]

We have sold STC. We live in a terraced house with 8 in a row. At the back of our garden is a right of footpath and right of way for vehicular access. Just behind this is some land. Some residents have a garage or hard standing. We have a hardstanding. We were told when we bought the house 14 years ago that it did not form part of the sale and its not on our deeds. We are leasehold. When we were selling, our estate agents mentioned it in the brochure just like ours did when we bought it. Our buyers solicitor has asked us to take out Lack of Rights indemnity insurance. I asked my solicitor why as I don't understand but they have just referred me to my estate agents saying they put it in the brochure.

Please can someone help me? Do I need to but this insurance. What will happen if I refuse? My solicitor has got me a quote of £120 but I am not sure I need to buy it.

Any help will be gratefully received 🙏 😊

If you refuse your buyers have options - they can pull out, reduce their offer, pay it themselves, or decide to proceed without it. Indemnity insurances are common - for £120 it's usually easier just to pay it.

You don’t own the hardstanding or have a legal right to use it. The indemnity insurance pays out if the owner of the hardstanding causes problems for your buyers using it.

If your property particulars say it’s included, you should pay.

It would be normal under the circa you describe. It gives your buyers reassurance. If you didn't tell the agent to put it in the particulars, I would think about making them pay for it. If it was your choice to include it it would be sensible to offer the indemnity and pay for it yourself.

Probably not worth worrying about too much, it's essentially a £120 surcharge to keep your buyers happy.

Thanks everyone for your replies. I am going to buy the insurance.

No way it should have been included in the property particulars,but only the agents fault if you told them you don't own it