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Indemnity insurance for deed of covernant?
thestens
Posts: 234 Forumite
This is a bit complicated! I live in a house which has a barn beside it. This has an upstairs area and at the back are two coal sheds. This is all one building. It is attached to my neighbour's house but not mine. We own the downstairs and upstairs but the coal sheds belong to my neighbours and the neighbours next to them. The buildings have a flying freehold.
When we moved in we got a deed of covernent with one neighbour about maintenanace of the different parts of the building and mutual access for maintenance, etc We don't have this for the other neighbour. It all proved to be a massive pain when we moved in, our solicitor stressed big time over it all and it held up the sale and was never totally sorted out (it was a cash purchase by us). Now I'm worried that when we come to sell this is going to be a headache again. We could go to a solicitor and get it done, the neighbours would be ok with this but I expect it will cost a fair few bob! Is there any way of getting indemnity insurance instead? You seem to be able to get it for most things, so how about this?
When we moved in we got a deed of covernent with one neighbour about maintenanace of the different parts of the building and mutual access for maintenance, etc We don't have this for the other neighbour. It all proved to be a massive pain when we moved in, our solicitor stressed big time over it all and it held up the sale and was never totally sorted out (it was a cash purchase by us). Now I'm worried that when we come to sell this is going to be a headache again. We could go to a solicitor and get it done, the neighbours would be ok with this but I expect it will cost a fair few bob! Is there any way of getting indemnity insurance instead? You seem to be able to get it for most things, so how about this?
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Comments
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There was a thread a few days ago about flying freehold and someone mentioned they had an indemnity policy to cover potential loss due to neighbours lack of support.0
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