The Zimapanners

 

 

 

 

                                                

 

The 2008 Conveyance

See—Leigh's


See sells Zimapan after 30 years
The deed of conveyance of the house, garden and additional land, which shows that Brian See sold Zimapan on 8 December 2008, refers to two interested parties:

1st Part 
Vendor 
Occupation 
Brian See
Entrepreneur/landlord
2nd Part 
Purchasers 
Tony Arthur Leigh
Karen Vicki Leigh
Property investors
Purchase price
£240,000

The purchasers
Almost nothing is known about this couple, except that they live in the Chichester area. It is assumed that they are property investors. The vendor, Brian See, is a close friend of the purchasers. As far as is known, the Leighs do not occupy the property themselves and have not let the property to a local.

The couple have plans to make some changes or improvements to the property, but the details have not been divulged to the author.1 The house was bought with a mortgaged loan through Redstone Mortgages PLC, St John Street, London.

Mineral reservation
A mineral reservation made on the property back at the end of the nineteenth century still applies. 

Trenane's Shaft
The old title deeds all refer to a messuage2 and dwelling house (i.e. Zimapan). An old mining search of the area indicates that there is an old mine shaft known as Trenane's Shaft thought to pre-date 1872, lying in the south-west corner of the grounds.3 

The 1978 title plan
As a reminder, in the 1978 title plan, the boundary lines were drawn in red (Zimapan's original land) and in green for the additional ('waste') land bought in 1953.4 At this point, the lay-by still falls within Zimapan's property boundary. (See 1978 plan).

The 2008 title plan
In the 2008 title plan, however, a thick red line has been drawn around the entire perimeter of the property, thereby enclosing two separate land components (original and additional land of 1953) into one. The original land (pre-1953) is now shown as a blue-shaded block, while the additional land is shown as a pink-shaded block.5

Middle boundary
The 'middle boundary', the dotted line separating the blue and pink-shaded areas is "no longer relevant, as both plots of land now fall under one ownership. This is because the person who would benefit and the responsibility [ed. for the fencing] are the same person".6 

Zimapan's lost lay-by
From a comparison of the 1978 and 2008 title plans, it would appear that Zimapan has somehow lost its lay-by, because the lay-by space now falls outside Zimapan's 1978 boundary; in the 1978 Conveyance, the western boundary of the property clearly ran parallel with the road. This is no longer the case. The boundary of Zimapan in the 2008 conveyance suddenly appears to run along the line of the curved, stone garden wall on the road side. How did this change come about and who effected it? This issue was the subject of a dispute between the current owners and the party responsible for redrawing Zimapan's boundary.

Dispute resolved
The dispute about the lay-by was resolved in 2009. For further details, see the interview with Ian K. Nelson, solicitor for the current owners.

Proceeds of the sale
The house sold for £240,000, providing Brian See with a 236.8% return on his investment over a 30 year period, giving him an average annual yield of 7.89% before deducting three years of renovation costs and legal fees.7


Footnotes
1. Based on photographs of the building taken in April and October 2009, considerable repair and exterior decoration is clearly needed.
2. Messuage: a dwelling house, with the adjacent buildings and curtilage, and the adjoining lands appropriated to the use of the household. Curtilage: A yard, courtyard, or piece of ground, included within the fence surrounding a dwelling house.
3. Mining Activity Search, Cornwall Consultants, Redruth, Cornwall, 1997.
4. Official copy of the 1978 Conveyance and Title Plan, The Land Registry, 12 March 1978.
5. Extract of the 2008 Title and Plan for Zimapan, The Land Registry, 16 February 2009.
6. Ian K. Nelson.
7. Sale price (£240,000) minus purchase price (£71250) = £168,750. 168750/71250 x 100/1 = 236.8%/30.