Being forced to sell property. Is this legal?

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Being forced to sell property. Is this legal?

    Hello,

    I am here asking a question on behalf of a friend of mine. They purchased a flat in London this year, the purchase initially began at the end of Summer last year but took forever to go through as the person who owned the lease on the building was selling it to the gentleman who owned that shop below my friends flat. I believe there are still plenty of years on the lease. The issue now is that a large supermarket chain want to buy several buildings on the high street to turn into a large shop and, as this flat is on the high street, it is included in that. The gentleman who recently purchased the lease offered to sell it (and the shop below) to my friend but the figure was unattainable for them so it will be sold to this supermarket. My friend is now debating whether to quickly sell the property before the plans get out, as it will inevitably be impossible to sell if people are aware of what will happen...or the other option is to wait until they are "compulsory purchased" by the supermarket and apparently given compensation for having to leave. I don't know the law or the ins and outs of this compulsory purchase business but to me something doesn't seem right here. Can anyone tell me if this can be done or even any suggestions as to what to do would be much appreciated.

    Thank you.

  • #2
    Firstly, if your friend does try to 'pull a fast one', he runs the risk of being taken to court and the sale reversed.

    However, on a more cheerful note, I don't think there is any way a freeholder can turf out a lessee in the middle of his lease. Your friend should sit tight, and wait for the supermarket to 'make him an offer he can't refuse'.

    However, it is possible that a council could make a compulsory purchase order if it wanted the land to redevelop. It doesn't sound like that is the case though, is it?

    Comment


    • #3
      I believe it's part of a large redevelopment that the council will be part of. The supermarket is just buying that plot. My friend has a sneaking suspicion that they knew this was going to happen before they bought it. Would they be within their rights to take them to court for a resale? What are the rules if the council do a compulsory purchase? Would it just be a current valuation at the time and that's what is paid no questions asked?

      Comment


      • #4
        Honestly, I don't think it's worth your friend going to court. He might as well just wait and see what he is offered. If he has only recently bought the flat, that gives a good guide to its value, so he could reasonably insist on the same amount.

        I think he may even be offered slightly more. See what happens.

        Comment


        • #5
          It is likely to be disclosed in the local authority search if you were to sell, and you would have to disclose it in the pre-contract enquiries anyway as you have knowledge of it and it's a material fact not to do so.

          A couple is currently being sued by the new owners because of an on-going dispute with a disagreeable 'Neighbour from Hell' which was covered up. It's all in this weeks Mail on Sunday
          The advice I give should not be construed as a definitive answer, and is without prejudice or liability. You are advised to consult a specialist solicitor or other person of equal legal standing.

          Comment


          • #6
            OK. Thank you all, I shall pass on this information. Any additional information will be much appreciated.

            Comment

            Latest Activity

            Collapse

            • What brand/price point for washer/dryer would you recommend?
              clairol
              As a landlord what approach do you take to replacing white goods in your rental properties?
              Do you buy cheapest brands and then dispose of them when they go wrong as it is pricey to repair?
              Or do you go for a better brand and hope for longevity?
              My repair man recommends buying the...
              22-07-2017, 08:48 AM
            • Reply to What brand/price point for washer/dryer would you recommend?
              jpkeates
              Horses for courses.

              I've never been able to get a fridge repaired, they only have one working system and when it breaks it's time for a new fridge, so I buy the cheapest one that fits with a name I've heard of.

              Washing machines can be repaired, so I pay more for one that has...
              22-07-2017, 10:27 AM
            • Claiming for protected deposit
              mandm
              This is an interesting one, got me into a spin.
              Tenants signed AST but decided to leave after 6 months and 3 days (problem with moving) using the break clause in the AST. I protected the deposit using DPS (Insured) and returned the deposit minus deductions when the moved out.
              I served the...
              21-07-2017, 08:00 AM
            • Reply to Claiming for protected deposit
              jpkeates
              That would be pointless.

              The tenant would have to sue to get their own money back.
              Apart from the waste of the court and tenant's time, there would be little or no compensation because the tenant would suffer no loss to compensate them for (loss of interest?).
              The only people...
              22-07-2017, 10:23 AM
            • Deposit at the end of AST. Also, quiet enjoyment.
              scooter08
              Q1 – Where is the rented property located (England / Wales / Scotland / N Ireland)?
              England

              Q2 – What type of Tenancy Agreement (TA) is this e.g. sole tenant / multiple tenant / room only?
              AST

              Q3 – What date did current TA start dd/mm/yy?
              12/04/2015
              ...
              21-07-2017, 15:06 PM
            • Reply to Deposit at the end of AST. Also, quiet enjoyment.
              Wright76
              Your right that the penalty claim is the law and it's your right to claim it.

              Unfortunately however you won't receive much sympathy on here,as most of us recognise that most of the breaches have been made by inexperienced landlords and not through any intention to rip you off.
              ...
              22-07-2017, 10:18 AM
            • Reply to Claiming for protected deposit
              jpkeates
              The legislation has been in place for a decade and has been revisited at least twice (and tweaked each time).
              The deposit schemes have fairly clear guides about what needs to be done and how and when to do it.

              Given the tenant(s) the Prescribed Information is part of the process of...
              22-07-2017, 10:17 AM
            • Reply to Claiming for protected deposit
              JK0
              It discourages landlords from taking a deposit at all, and instead making it up with higher rent. This discriminates against tenants staying for a long time.

              I think that is what is happening to o/p.



              It's all a lot of nonsense. Tenant could always sue if landlord...
              22-07-2017, 10:12 AM
            • Reply to What brand/price point for washer/dryer would you recommend?
              Dinkum
              I buy the cheapest machine I can source. It is usually a Hotpoint or Indesit. And they all come out of the same factory. Some of them last for years. I've just replaced a Hotpoint WD after 11 years with a new Indesit one. I try and avoid the ones with the digital display and too many fancy options as...
              22-07-2017, 10:09 AM
            • Reply to Claiming for protected deposit
              mandm
              What’s evident from responses in this thread that equal emphasis was given to deposit protected within time frame and T were informed in a prescribed manner, some going as far as getting the T to sign the acknowledgement!
              I am really flabbergasted to read some of these emphasis, surely the point...
              22-07-2017, 10:07 AM
            Working...
            X