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40 years old covenant in Register of title

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  • 40 years old covenant in Register of title

    I am planning to buy a mid terraced house for buy to let.
    My solicitor noticed below covenant from Charges Register
    "A Conveyance of the land in this title and other land dated 22 June 1984 made between (1) xxx Council (Vendor) and (2) Nationwide Housing Trust Limited (Purchasers) contains the following covenants:-
    "The Purchasers hereby covenant with the Vendor that the Purchasers will not use the property hereby conveyed other than for a low cost housing development in association with the xxxx Borough Council."

    my solicitor raised below question as part of enquiries to seller solicitors

    "We are not at all happy with restriction 2 of the charges register, we require this restriction removed before completion please correspond with the Council and arrange for this"

    Sellers Solicitors response: Reply. Not agreed. The covenant has no practical use now the development is 40 years old

    I checked with my friends who bought the properties in same street for buy-to-let, their Charges registers also have same covenant and their solicitor not raised this when they brought it.

    I am confused, my mortgage approved, not understand to proceed or not.

    Will that covenant affect any further resale/remortgage?
    And also when I rent the property, is Council asks me to rent out lower rate?

    I don't see any details in Council website related to "low cost housing development "

    Please can you provide your view?

    Thanks
    Tags: None

  • #2
    This covenant appears to be in a conveyance of a rather larger plot of land on which presumably several houses have been built, including the one you are proposing to buy. I think I agree with the sellers' solicitor.
    Lawyer (solicitor) - retired from practice, now in academia. I do not advise by private message.

    Litigants in Person should download and read this: https://www.judiciary.uk/wp-content/..._in_Person.pdf

    Comment


    • #3
      Thank you for quick response. Really appreciated

      Comment

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