Buyer Solicitors Queries - FTB

mazibee

Any idea how long it takes for the solicitors enquiries?

Tiglet2

Anything from a few weeks to a few months

mazibee

Today received some paper work ifrom solictor
1) TR1 Form - We need to sign ( Do Not Date) and post them back
Section 11 Additional Provisions

"The Transferees hereby jointly and severally covenant with the Transferors and each of them that the transferees and their successors in title will at all times hereafter duly observe and perform the convenants stipulations and regulations contained or referred to in the CHARGES REGISTER of the tile above mentioned and will keep the Transferor and respective estates and effects effectually indemnified against any cost claims and demands arising from any future breach or non-observance or non-performance thereof"

Please can someone explain whats this means.

2) CONTRACT Incorporating Standard Conditions of Sale

Is this the Draft contract?


Thanks in advance

mazibee

Please can someone explain these?


Sorry for bumping the post.

mazibee

Dear All,


I have received the TR1 form and unable to understand this part written in Section 11. Please can someone explain

"The Transferees hereby jointly and severally covenant with the Transferors and each of them that the transferees and their successors in title will at all times hereafter duly observe and perform the convenants stipulations and regulations contained or referred to in the CHARGES REGISTER of the tile above mentioned and will keep the Transferor and respective estates and effects effectually indemnified against any cost claims and demands arising from any future breach or non-observance or non-performance thereof"

Thanks in advance

mazibee

I emailed my solicitors asking for the explanation and they replied back.

This will be covered in the final report sent to you; please can you sign and return the documents in readiness as you are not legally committed to anything until the point of exchange.

Tiglet2

Wait for the report...… this is what your solicitor is paid to do.

However, my understanding is this (not a solicitor, though I do work in conveyancing):

It means that the property is subject to covenants, so the person selling it needs to be assured that if the new owner starts to breach any covenants it will not be a problem for the seller after he had disposed of the property.

If the seller is sometime in the future sued for breach of covenant he will have an indemnity against the new owner who would actually be the one who would have created such a breach.

This is quite a normal clause on a TR1 form when there are restrictive covenants shown on the Charges register of a title. Please read the restrictive covenants - i.e. positive covenants = things you must do, i.e. maintain a wall, and restrictive covenants = things you cannot do, i.e. erect a concrete building in the garden, park a caravan on the front.

In modern English the clause means "Should you decide to breach a restrictive covenant once you own the property, it will be you who takes the blame for it, not me."

Google The Law Society for the standard conditions of sale in an agreement (i.e. contract).