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Clawback agreement
elad80
Posts: 1 Newbie
I am currently in the middle of purchasing a house. In a past life the house was a council house and was transferrred to a housing association in 2000. As part of this transfer a disposal clawback agreement was agreed between council and HA. This clawback is nowe holding up the completion as the sellers solicitor says it is no longer relevent and our solicitor is nbot sure and wishes further clarificatrion form the council (this could takes weeks or months!)
Has nyone else had experience of clawback with ex authority homes and doe sit still apply afte rthe prorperty has been sold on again since the housinf asscoition sold?
Has nyone else had experience of clawback with ex authority homes and doe sit still apply afte rthe prorperty has been sold on again since the housinf asscoition sold?
0
Comments
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The wording should specify time limits. If those limits (3 or 5 yaers) have expired then you shouldn't have a problem.
If you are buying within the period from the original purchaser then they will have to repay the discount when they sell to you.
If you are buying from someone who bought from the original buyer and they bought during the clawback period then I expect it would be appropriate to check that the Council/HA got is discount back on that first saleRICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0
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