UKC

Proceeds of Crime Serious Fraud Office

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Bit of a specialist one. I'm trying to buy a house which the Land Registry has revealed has a charge over it to the Proceeds of Crime division of the Serious Fraud Office.

Our conveyancer is being frigging useless, does anyone have direct experience of how such an order can be lifted or how long it might take.

 off-duty 17 Feb 2021
In reply to Rob Exile Ward:

No direct experience - but I would have thought that charge is just to make sure that the payment for the sale goes to the SFO. Might be worth contacting the SFO direct?

 Sputnick 17 Feb 2021
In reply to Rob Exile Ward:

My understanding of proceeds, is that it won't effect you at all. Your money for the house will go to the government ( instead of the vendor) . The house will then be yours as normal.

 wintertree 17 Feb 2021
In reply to Rob Exile Ward:

Does someone write to the criminal’s known associates to let them know he doesn’t live there any more?  Make sure you know what vendettas and grudges come with the property.

In reply to wintertree:

I rather wish you hadn't mentioned that; it already occurred to me. Somebody did suggest the 'Searches' should include under the patio...

In reply to off-duty:

Yes, I've sent them an email; - no response yet.

In reply to Rob Exile Ward:

You need to know why it's deemed 'proceeds of crime'.  If it's something like the Scottish blackfish scandal which is pretty much victimless you're probably OK. If it's drug dealing you're probably best to run away.

 wercat 17 Feb 2021
In reply to Rob Exile Ward:

Can you ask your lawyer what events allow the charge to be "discharged"?

I would have expected the charge to take effect on the proceeds of sale of the property and then be discharged as a result

 Cobra_Head 17 Feb 2021
In reply to Rob Exile Ward:

> I rather wish you hadn't mentioned that; it already occurred to me. Somebody did suggest the 'Searches' should include under the patio...


You might have to go into exile!!

 cezza 17 Feb 2021
In reply to Rob Exile Ward:

Good chance it was money laundering mortgage fraud. The guilty party probably had no interest in the property beyond it’s use for money laundering. 
 

cezza

 alx 17 Feb 2021
In reply to Rob Exile Ward:

Do you get to keep the heap of coccaine, palm trees and M16’s left behind by the previous owners?

 Cobra_Head 17 Feb 2021
In reply to cezza:

> Good chance it was money laundering mortgage fraud. The guilty party probably had no interest in the property beyond it’s use for money laundering.


What are you basing this theory on?


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