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Hi All,
A property I am trying to buy has a positive covenant along with a fixed and variable estates rent charge. The variable rents charge is collected by the management company and used for maintenance of the estate ect but they do not collect the fixed rent charge. We have been in contact with them but they have told us that "it is our policy not to collect it" but does that not mean they could use Section 121 of the 1925 law of property against me? Any past cases I found only relate to historical rent charges not "estate rent charges" and some findings seem to indicate that it does not give them a "legal interest" in the land therefore they could not create a lease on the property?
Any thoughts on this one would be appreciated.
Thanks
A property I am trying to buy has a positive covenant along with a fixed and variable estates rent charge. The variable rents charge is collected by the management company and used for maintenance of the estate ect but they do not collect the fixed rent charge. We have been in contact with them but they have told us that "it is our policy not to collect it" but does that not mean they could use Section 121 of the 1925 law of property against me? Any past cases I found only relate to historical rent charges not "estate rent charges" and some findings seem to indicate that it does not give them a "legal interest" in the land therefore they could not create a lease on the property?
Any thoughts on this one would be appreciated.
Thanks
