who is the recipient of notices

droodleskins

hi,

i'm selling a property and have a question from the buyer which says ...

please let us have the name and address of the recipient of any notices under the terms of the lease and details of the notice payable.

what does this mean - i've read my lease and can't see anything corresponding to it.
I own the lease but i am also a director of the management company who owns the freehold.

thanks.

Richard_Webster

Normally when there is an "outside" freeholder he or his appointed managing agents will receive these notices and any fee payable.

If it is a residents management company the lessees can together decide who does the paperwork for the company and that person would be deputed to receive such notices.

You will need to read through the lessee's or tenant's covenants in the lease and there will nearly always be wording that says that within say 28 days of any assignment of the lease (and various other occurrences like death etc) the incoming lessee must serve a notice giving his details and those of his mortgage lender (if any) to the freeholder or his solicitors. It isn't very common for solicitors to get these notices nowadays - it is usually the freeholder himself or his managing agent.

The clause will usually either specify an amount per notice or will say that a reasonable fee should be paid. Many residents management companies don't make a charge at all, but in some cases, where one person does all the paperwork (like answer5ing the set of queries OP evidently now has), it is agreed that some charge should be paid which is pocketed by the person concerned to cover his admin expenses and time.

Old leases might say 3 guineas or something like that but modern charges made by managing agents are something like £50-60 plus VAT. (Some property companies really are awful - I've just paid £207 for this to a certain managing agent much mentioned in threads on this and other boards.) A reasonable fee for you to charge, if you have any discretion in the matter, and you decide it is reasonable to charge at all, would perhaps be £25.