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Land Registry Covenant
Emalou2
Posts: 3 Newbie
Good morning.
We are in the process of buying a property with a restrictive covenant on it. We have been made aware that the covenant is with a company who are now dissolved. It relates to joint maintenance of communal areas where the property stands.
Our solicitor needs to provide a ‘certificate’ on transfer to say that we agree to comply with the covenant. We don’t have an issue with this as are aware of the restrictions on the title.
Our solicitor has gone back to the sellers solicitor who have now submitted an RX2 to the LR to remove/amend the title in order for us to purchase.
I understand that something will have to be written up which legally ties us and the other owners in to maintain the areas in the future.
Does anyone have any experience of this and or possibly tell us the timeframe on how long this is likely to take?
It’s the only thing that’s holding the purchase up.
We are in the process of buying a property with a restrictive covenant on it. We have been made aware that the covenant is with a company who are now dissolved. It relates to joint maintenance of communal areas where the property stands.
Our solicitor needs to provide a ‘certificate’ on transfer to say that we agree to comply with the covenant. We don’t have an issue with this as are aware of the restrictions on the title.
Our solicitor has gone back to the sellers solicitor who have now submitted an RX2 to the LR to remove/amend the title in order for us to purchase.
I understand that something will have to be written up which legally ties us and the other owners in to maintain the areas in the future.
Does anyone have any experience of this and or possibly tell us the timeframe on how long this is likely to take?
It’s the only thing that’s holding the purchase up.
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