Plain English

Sjj123

I am unsure of the exact meaning of this clause, and would appreciate it being explained in plain English;

THIS transaction does not form part of a larger transaction or a series of transactions or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds £60,000

This clause is within a lease agreement of a basement flat in a freehold property.

Reaper

Hard to say exactly as we don't know the context, but it is saying the amount must not exceed £60,000 and that you can't get round the rule by trying to split a larger figure into several smaller amounts.

Sjj123

Can it mean the lease cannot be sold on for an amount exceeding 60,000?

laurel7172

If it's a pre 2005 lease, I think it might be asking you to confirm that the transaction hasn't been broken down into smaller amounts to evade stamp duty, which used to kick in at £60,000.

http://en.wikipedia.org/wiki/Stamp_duty_in_the_United_Kingdom

Sjj123

It was signed in 2001, so could be linked to stamp duty.

Are you able to help with this clause;

IT IS CERTIFIED there is no agreement for lease in respect of which this Lease is granted.

Thanks

Onawingandaprayer

Both your queries explained on page 23 (I think!)

http://www.yhn.org.uk/pdf/plain%20English%20lease.pdf