NO management company

Haircut15

After opinions in the process of buying a property to rent. Cash buyer. Restrictive covenant stating agree to pay management company for maintenance. Road is unadopted. Property freehold.  There has been no management company for ten years. Houses sell fast and owners are getting mortgages. Land reg won't remove restriction permantly. But have said may disapply restriction so we can become registered owners.  May concern is reselling in the future. Will we be able to get restriction disapplied in the future. Will people be able to get mortgages.  Highways have no interest in adopting the road. Previous management was removed by companies house. Therefore road passed to the crown. To disapply restriction solicitor has to go to treasury solicitor for evidence that they have no interest in the road. Road is in excellent condition. And front of property in adopted area.long post!!! X

davidmcn

What's your solicitor's advice?

greatcrested

If all else is good, buy.

Then go to Treasury solicitor.

Haircut15

Solicitor really risk aware. Negatives are if land reg won't disapply restriction in the future to allow us to sell we end up with house we can't sell!! Seeing as for the last ten yrs houses have sold I can't see why it wouldn't be disapplied. Just playing on my mind x

AskAsk

so who pays for the maintenance of the road now?

Haircut15

Nobody!!! That's the problem. Eventually it will deteriorate. But really good at mo. It's a dead end of bout 17 houses. You wouldn't go down there unless you lived down there x

Mickey666

“Road passed to the crown”
What does that mean in practice?  That the crown is responsible for maintenance or that even if the residents agree to pay they would need permission from the crown?
In my experience of private roads, they are typically owned by one or more of the residents with all having covenants for sharing the maintenance costs.

Haircut15

It means the crown own the road but have no interest in it. If management company was in place none of it would be a issue.

greatcrested

Have you looked at the Titles of some of the other houses that have sold recently?

Do they have the same restriction? If yes, well, it didn't stop them selling......

Might also be worth knocking on doors and get a feel for what other owners know, as well as their views of what would happen if/when maintenance is needed on the road. Won't guarantee anything but will give you a steer as to whether some/many/all might chip in to the cost or whether there'd be wholesale resistance.

Haircut15

I only intend to own for bout ten yrs. I am happy do my own maintance.  I can't see the road needing any maintance in the next ten yrs. 

Yes I kind of think if properties sell like they do on the road it really isn't causing an issue. As land reg won't remove restriction permanently I assume all houses on the road have this restriction. 

greatcrested

Haircut15 said:

Yes I kind of think if properties sell like they do on the road it really isn't causing an issue. As land reg won't remove restriction permanently I assume all houses on the road have this restriction. 

Since the issue is worrying you, for the sake of £3 each, why rely on an assumption? Takes 5 minutes to check.