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Obsolete covenants and Rent charges contained in Title documents
Aber1
Posts: 2 Newbie
I was astonished to find our Purchaser's Solicitor demanding that we take out an Indemnity Policy to cover a possible rental claim of £1.40 every 6 months under an Indenture dated August 1859, in spite of (unsurprisingly) there being nothing claimed during (at least) the past 72 years. Clearly this will never be claimed as the cost of the staionery and postage alone would result in a monetary loss even before the time and effort in drafting a letter, travelling to a Mail box and depositing a cheque, as well as possible bank charges.
I enquired of the Land Registry whether or not the obsolete covenant could be removed, and after investigating the relevant sections, and on talking to another Solicitor found that this was effectively impossible. Surely it is time that simple legislation be introduced so as to remove obsolete covenants in a simple way?
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Comments
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I bought out our Rent charge about 2 years ago for £85 but the New company that had bought a number of Rent charges really wanted us to miss the paperwork so they could add lots of extra legal costs.
For many Rent charges run out in 2037 but not sure on Covenants1
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