Building Covenants?

[fisicx]

. All you are promoting is bad business ethics.

No, I’m just stating how things are. As the buyer you are expected to understand obligations. Which is why you pay for legal advice before signing the contract.

 

[Mark T Jones]

Rather like the car sales people selling car finance - they shouldn't have to tell their customers where the money goes too, just sign on the dotted line and pay. They are also acting for the seller. All you are promoting is bad business ethics. Let the Buyer beware.

Possibly the difference between ideals and practicality.

We'd all love agents to be honest and open. In the real world you need to understand you can't trust a word they say.

 

[eteb3]

My understanding:

The reason for the TA06 form is that the buyer will take the legal estate with any equitable interest they could reasonably be expected to have discovered - eg, neighbour has pinched a metre off the back boundary and got away with it for years.

Buyer is also free to enquire about anything else. The seller will be liable for breach of contract / misrepresentation if they give an inaccurate answer, but not if they don’t reply at all.

On covenants, these are often stated to “run with the land”. Developer A sells a big plot to Developer B with a covenant. Developer B sells off the homes one by one: all the parcels (not the owners) are now bound by and benefit from the covenant.

On agents, they don’t have to volunteer anything. They’re liable if they say something false - so they all robotically respond to questions with “it would seem so”, etc.

Whoever said “get the land registry docs” had it right: £7 will save a lot of hassle.

 

[Michael Loveridge]

Whoever said “get the land registry docs” had it right: £7 will save a lot of hassle.

Unfortunately, that's not the case. Whilst the LR documents will disclose the existence of covenants a lay person (and, to be fair, many professionals) would not be able to assess simply from the LR records whether or not those covenants could actually be enforced.

 

[eteb3]

Unfortunately, that's not the case. Whilst the LR documents will disclose the existence of covenants a lay person (and, to be fair, many professionals) would not be able to assess simply from the LR records whether or not those covenants could actually be enforced.

100pc agree, but it’s an early heads up. Eg, you might instruct a lawyer before a surveyor and make that the first question you ask - and save the valuation fees. OP seems unhappy to have learned so late in the process