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Expiry of chief rents in 2036/7
bruckshaw1
Posts: 34 Forumite
I pay chief rent (not rentcharge ) on my freehold property. Answering a query about redemption of the chief rent my solicitor tells me this
"" Your Conveyance dated 5th May 1964 provides that the rent charge will not expire in 2036. The wording of the Conveyance states: “TO HOLD the same unto the Purchaser in fee simple RESERVING out of the property hereby conveyed to the Vendor in fee simple a perpetual yearly rent charge of Twenty pounds to be forever charged upon and issuing out of the property hereby conveyed.” The rent charge will therefore continue to be payable at all times in the future unless redeemed.""
Is this correct?
"" Your Conveyance dated 5th May 1964 provides that the rent charge will not expire in 2036. The wording of the Conveyance states: “TO HOLD the same unto the Purchaser in fee simple RESERVING out of the property hereby conveyed to the Vendor in fee simple a perpetual yearly rent charge of Twenty pounds to be forever charged upon and issuing out of the property hereby conveyed.” The rent charge will therefore continue to be payable at all times in the future unless redeemed.""
Is this correct?
0
Comments
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The 1977 Rentcharges Act capped ALL rentcharges to 60 years to expire in 2037.
It doesn't appear to exempt perpetual rentcharges from that.
A chief rent IS a rentcharge.0 -
@bruckshaw1 did you managed to get this resolved?0
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Some advice please regarding Ground Rent/Chief Rent.
We have a property with a rent charge added 1956 will this be defunct under the 1977 Rentcharges Act?
Any advice would be most appreciated.
Thanks, S.
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