Chief rent redemption

bruckshaw1

I  asked my solicitors  to negotiate the redemption of my rentcharge. So far it has taken 16 months with excuses including Covid, furlough, stamp duty holiday causing pressure on conveyancers, solicitor's family bereavement and sickness and intransigence by the rentcharge holder. The current situation is that we have a redemption figure from a large Company who will not prove that they are  the legal holders of the charge. Does this amount to incompetence on the part of my solicitors?

princeofpounds

Which part? There's certainly plenty of incompetence going on. 
Read this: https://www.gov.uk/guidance/rentcharges
I've not been through the process, but it looks like you can do it yourself.

bruckshaw1

But you need to know the name of the rentowner and the solicitor has not found it positively.

princeofpounds

bruckshaw1 said:

But you need to know the name of the rentowner and the solicitor has not found it positively.

Are you 101% certain on that? If not, suggest you contact the rentcharges unit through the details at the link and enquire about the process.

Reading the primary legislation would seem to suggest that a payment can be made 'into court' instead of to an identified owner. But certain elements of the legislation appears to be at the discretion of the Ministry so I'm not sure what is implemented and what isn't.

https://www.legislation.gov.uk/ukpga/1977/30/part/3

In any case, the rentcharge will expire in, IIRC, 2037

dimbo61

How much is the Rentcharge each year ?
After 6 years of owning a house we received a rent demand for that year and previous 6 and paid £85 to buy out Rentcharge.
It runs out in 2037

So how much is this company asking for ?

bruckshaw1

The company is asking £500 .The charge is £20 pa. the house will probably come on the market in the next very few years due to our ages and I would not be seeking redemption but for the recent experience of one of our  executors  who was selling a house in Bristol. The buyers from London and their solicitors did not understand what chief rent was and the deal collapsed.