New Leases and HIPS

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    New Leases and HIPS

    Hi all,

    I have a quick question about HIPS. I have recently converted a property into three flats. I wish to put them on the market and have asked the agene to instruct the HIP. He is asking for a copy of the lease but my solicitor is saying that it is not avilable yet and in any event as it is a new lease it would need to be approved by a buyer's solicitor so cannot be put in the HIP as it may change. Can someone help me on this point as the HIP company is insisting on the lease. Are there any exceptions on new leases going in HIPS.

    Thank you.

    #2
    Include draft lease in the HIP, leaving the precise clauses to be negotiated with the solicitors who will be acting for a purchaser/lessee.
    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
    2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
    3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
    4. *- Contact info: click on my name (blue-highlight link).

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      #3
      Thank you.

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