Title endemnity insurance- non transfer of communal areas

[Doan]

Has anyone any experience of selling an apartment and needing title indemnity insurance to cover the fact that the communal areas were never transferred to the management company and are in the hands of the crown. This issue is preventing me from sale completion and my solicitor says this type of insurance does not exist to cover this type issue? Anyone know different or where could i get this bespoke insurance

Have you got a potential buyer?

Even with an insurance policy, I don't think any mortgage companies would consider this, so you'd be limited to cash-only buyers who are unphased about not owning the communal areas and not concerned about selling on...

Is the mangement company taking action to fix the issue? You might be better to wait until that completes...

Is there a valid agreement for who is maintaining the communal areas, if the management company doesn't own them? If not, I don't even think any of the emergency buying companies would consider it. Is the roof included?

Yes i have a buyer. This happened just 2 weeks before completion. There is an active management company since 1990! We never had any issues and everyone here was unaware of the problem!

The management company have appointed a solicitor to progress transferring the common areas back but can take months years!

I had this issue a few years back, it took almost 18 months to sort it all out, I lost a buyer due to it.

How was it sorted out?