Any ideas on what this stipulation means?

TDH_91

I'm purchasing a council house and found the following stipulation in the TR1 form:

2. THE Transferor being the owner of land adjoining the said property for the time being remaining unsold may at any time or times hereafter release waive or modify any of the stipulations imposed by the Transferor upon the said property or upon any part of the adjoining land and the covenants on the part of the Transferee herein contained shall not operate to impose any restriction on the manner in which the Transferor may deal with any other land belonging to it or be deemed to create a building scheme I N W I T N E S S whereof the Transferor has caused its Common Seal to be hereunto affixed and the Transferee has signed this instrument as his deed in the present of the person mentioned below the day and year first before written

Does anyone know what this means? I've asked my solicitor for further clarification but they said it was a normal restriction.

moneysavinghero

I would guess it's saying you have restrictions placed upon you, but the transferor can change those at any time they wish and those restrictions only apply to you and not to the transferor. Seems pretty standard stuff.

TDH_91

moneysavinghero said:

I would guess it's saying you have restrictions placed upon you, but the transferor can change those at any time they wish and those restrictions only apply to you and not to the transferor. Seems pretty standard stuff.

So if I purchase the property the transferor can then add an additional covenant after I purchase the property?

p00hsticks

TDH_91 said:

Does anyone know what this means? I've asked my solicitor for further clarification but they said it was a normal restriction.

I'd go  back to them and say that you weren't asking whether it was normal or not, you were asking them to explain what it actually meant. After all, that's what you;re paying them for.....

gollum007

TDH_91 said:

moneysavinghero said:

I would guess it's saying you have restrictions placed upon you, but the transferor can change those at any time they wish and those restrictions only apply to you and not to the transferor. Seems pretty standard stuff.

So if I purchase the property the transferor can then add an additional covenant after I purchase the property?

No.

It's saying that you cannot impose any new restrictions on the transferor, specifically in the case of them choosing to build on the adjacent land. Additionally if they choose to do this, they may need to alter the covenants applying to you (access? appearance?)

TDH_91

thanks all, will follow up with solicitor