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No thrills part ownership
stebiz
Posts: 6,590 Forumite
Wonder if anybody would share their views.
I am looking to invest in a few more properties and one has become available which is part ownership. It is 50% and has been repossessed.
I can buy the 50% for a few thousand and have the right to buy the other 50% at the valuation of the district valuer.
My concern is that if it was repossessed then it is likely the previous owner has not paid the rent to the Housing Association. Can they come after me for the arrears?
I've checked the lease and it does say any arrears would need to be paid off prior to buying any more of the property, but is that my arrears or previous arrears?
I have asked the Housing Association if there are any arrears but the lease and housing association have changed 4 times since it was signed and they are worse than hopeless at giving any information. In fact they aren't even sure it is there's although I have done my own research and know 100% it is.
I am looking to invest in a few more properties and one has become available which is part ownership. It is 50% and has been repossessed.
I can buy the 50% for a few thousand and have the right to buy the other 50% at the valuation of the district valuer.
My concern is that if it was repossessed then it is likely the previous owner has not paid the rent to the Housing Association. Can they come after me for the arrears?
I've checked the lease and it does say any arrears would need to be paid off prior to buying any more of the property, but is that my arrears or previous arrears?
I have asked the Housing Association if there are any arrears but the lease and housing association have changed 4 times since it was signed and they are worse than hopeless at giving any information. In fact they aren't even sure it is there's although I have done my own research and know 100% it is.
Ask me no questions, and I'll tell you no lies
0
This discussion has been closed.
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