House owned by trust - anyone got experience of this

[whycantitbecalm]

Ok, it has been uncovered during the buying process, that the house I am interested in buying was built on land owned by a trust.

This happened back in the 60s and the original trustees are all deceased, but may have families of their own that the land could've been passed down through.

The house I'm buying is a deceased estate but there is a clause in it, stating that for 21 years past the owners death, the trustees have the right to lease, sell, dispose of the property?

Has anyone had any experience of this?

My solicitor is looking at it, but says it's rare and can't answer my questions.
All I really need to know is, whether those trustees or their remaining families can come and take it from me, without reimbursing me for my purchase.

Help

Just say sorry not going any further with the purchase, possibly give the agents a rocket as well as in its current state the property is unsaleable so please can I have my Solicitors fees back

Bump, any updates?

Do you mean your house has a leasehold owned by a trust and is that trust now, as far as you understand it, defunct. But you are worried that an heir can appear and claim the leasehold? I very much doubt they could claim ownership of the property.

This isn't uncommon in my town - big chunks of the town were built on land which now has various absentee freeholders, often related to defunct churches and political societies. It is a relic of philanthropy.

My own house is built on leased land but no ground rent has been claimed for decades. I believe the leasehold goes back to the late 1800s and has something to do with land 'donated' for a Liberal Club. However, in theory, some heir could reappear and claim ground rent.

Because it isn't unusual in our area, estate agents and solicitors are very used to it. All I needed to do was buy an indemnity insurance policy (around £100) against the leaseholder reappearing and charging ground rent.

I can understand that if it isn't common in your area, a solicitor might not understand but they need to do some addition research.

@ForPearlViper that was a fantastic answer, are you in the Uk?

Thank you so much for replying x

Yes, in Northern England.

@ForPearlViper if you don't mind what is the insurance policy called please?

I am so sorry, it is over 10 years since I bought my house so I can't remember exactly. It was something like an absentee landlord indemnity policy which I've just googled and loads of info comes up. Good luck.