Ownership time limit

[sgs]

Hi,
I was looking at the documents of our house & found something something strange – hopefoly someone can clarify it.
We bought freehold house 10 years ago. It’s been a council house sold to the tenants in the 80s. In the conveyance between the council and the tenants it says:


"The Purchaser hereby declares that until the expiration of twenty-one years from the death of the survivor of the Purchaser the trustees for the time being of this deed shall subject as hereinafter mentioned have power to sell mortgage charge lease or otherwise dispose of all or of part of the premises with all the powers in that behalf of an absolute owner.
……
The expression "the Purchaser" includes the persons deriving title under him"


Does anybody know if that places any time limits on our ownership?
Thanks

[wales01man]

Re: Ownership time limit

BUMP Someone must be able to help this is a strange one

[R0b]

Re: Ownership time limit

My understanding of it relates to administration of the estate upon death. Where the survivor of the purchaser dies, e.g if the husband dies and property passes to the wife and then the wife dies, the trustees of the property have the same powers as the purchaser of the property as outlined above.

This could be there for a number of reasons such as paying taxes or debts etc.

I don't think it has a time limit on yourself as the purchaser. Sounds a bit dated but depends on the context, you couple apply to the land tribunal to have it removed and the council might object to. There would of course be expenses involved

[Openlaw15]

Re: Ownership time limit

Hi,
I was looking at the documents of our house & found something something strange – hopefoly someone can clarify it.
We bought freehold house 10 years ago. It’s been a council house sold to the tenants in the 80s. In the conveyance between the council and the tenants it says:


"The Purchaser hereby declares that until the expiration of twenty-one years from the death of the survivor of the Purchaser the trustees for the time being of this deed shall subject as hereinafter mentioned have power to sell mortgage charge lease or otherwise dispose of all or of part of the premises with all the powers in that behalf of an absolute owner.
……
The expression "the Purchaser" includes the persons deriving title under him"


Does anybody know if that places any time limits on our ownership?
Thanks

The council was the trustee (ie owner) of the property and was saying within 21 years of no one has taking possession of the tenanted property, the council can sell, mortgage, charge, lease the property. However, this covenant (agreement) no longer applies as it was based on a covenant from a prior lease whereas the transfer in the property now entails a freehold purchase. I do not think you need to do anything about it at all now or in the future. It's just like some properties may have had an ancient covenant to do with the 2nd world war but obviously not longer binding now on a new owner of the property.

[sgs]

Re: Ownership time limit

Thank you for the replies.
Those interpretations would not cause us any problems.
My worry was that after we bought the property we would be the Purchaser (as the persons deriving title under the original purchaser) and there'd be a 21yrs limit on our children's ownership after we pass away.
Something like: https://en.wikipedia.org/wiki/Rule_against_perpetuities
Hopefully that's not the case + it is far into the future