Can buyers solicitor draw up deed of covenant?
Collapse
X
-
It is not unusual for the buyers solicitor to presume to serve a D of C on the landlord. Some leases (admittedly not a high percentage) have a specimen deed of covenant for such use in an appendix. The deed may have special requirements which would become apparent on reading the lease, such as the buyers covenanting to take a share in the management company and assign it with the flat in the future.
- 1 like
-
No but it is not essential anyway although missing FRA is more concerning.
Probably a good warning of what you can expect in future from this freeholder _- get out while you still can.....
Leave a comment:
-
Can buyers solicitor draw up deed of covenant?
We have been waiting for over a month for freeholders solicitor to provide the deed of covenant for the leasehold flat we are buying (in addition to STILL NOT providing the Fire Risk Assessment). Mortgage offer expires in just over 2 months. Can our (buyers) solicitor draw up the deed? ThanksTags: None
Latest Activity
Collapse
-
by LawcruncherThe deed of covenant should be sent as required by the lease. If the lease was granted on or after 1st January 1996 a deed of covenant on an assignment does not actually achieve anything as the position is covered by the Landlord and Tenant /(Covenants) Act 1995, so there is no need to worry if you...
-
Channel: Conveyancing Questions
26-02-2021, 09:34 AM -
-
by CFMCI run a management company and I would like to know if the Land Registry require a signed Deed of Covenant to be returned to me before completion, or can this be received afterwards? In which case is there a time limit on when this should be submitted by? Also is there a time limit on when the Certificate...
-
Channel: Conveyancing Questions
25-02-2021, 12:02 PM -
-
by CFMCThanks for your response Lawcruncher. Does that timeline also apply to the required Deed of Covenant? Should that not be returned signed within a few days of completion?
-
Channel: Conveyancing Questions
25-02-2021, 23:31 PM -
-
Reply to Lease 63years & 999years addedby YattyyakThere are 2 lease’s current one 63yrs and Reversionary lease 999 years starts 2084.
The lender is querying does the 999 lease start automatically and at no cost , as the new lease doesn’t say anything about it .Also ground rent in 2084 starts at £500 but anything over £250 outside London...-
Channel: Conveyancing Questions
25-02-2021, 15:52 PM -
-
by YattyyakHello hope someone can advise any help most appreciated.
we are in the process trying to buy a flat .
There is what seems now a management company set up and taken over the freehold from the original developer and the directors seem to be people who live in the flats or other that live elsewhere...-
Channel: Conveyancing Questions
20-02-2021, 23:36 PM -
-
Reply to Lease 63years & 999years addedby CodgerSpeak to the directors it may be the original lease term is not relevant if you are going to be a shareholder of the freehold.
-
Channel: Conveyancing Questions
25-02-2021, 15:35 PM -
-
by zruxWas trying to purchase a property, which fell through at the last minute as the seller passed away.
The solicitors legal fees agreed was £700, searches and transfers were extra.
This wasn't a no win no fee basis.
The searches were completed and mortgage offer was received by...-
Channel: Conveyancing Questions
24-02-2021, 14:11 PM -
-
by LawcruncherPersonally I would say not. It does though depend on how you look at it. At least in theory (it is one of the reasons used to justify charges) a conveyancing fee includes an indemnity element. It is why on the whole the higher the price the higher the fee. If the matter does not proceed that at the...
-
Channel: Conveyancing Questions
25-02-2021, 12:51 PM -
-
by zruxThank you all.. In this case I have mentioned the fee quoted and at what stage the matter was aborted. My question was more on the lines of the following-
The solicitor is asking for £650 at this stage out of £700. Is that a fair amount in terms of the charges by my solicitor?
...-
Channel: Conveyancing Questions
25-02-2021, 12:25 PM -
-
by LawcruncherAll the Land Registry expects is compliance with any restriction on the register. Time limits as such do not really come into it. If a restriction says that no disposition can be registered without a certificate in a specified form then the certificate must be submitted before the disposition can be...
-
Channel: Conveyancing Questions
25-02-2021, 12:14 PM -
Leave a comment: