If you are considering buying a property, do consider recent changes in the law in this area. For those buying a commercial lease, in a recent case a landlord who informed a tenant he intended to redevelop a property and then later changed his mind was liable for damages. Paul Taylor, Senior Partner at Kidd Rapinet and a property specialist says “We can advise on service of notices required under property law in such cases and ensure you comply with the law. Plenty of local businesses buy a long lease on their shop or office without taking proper legal advice on its terms and then find they are personally liable, not just their limited company, as they did not read the paperwork properly or otherwise are tied up in ways they do not like. The Landlord and Tenant Act can be a bit of a minefield.”
If you are proposing to move house we can also help you with the legal side of things. Watch out for properties owned in joint names. Recently the court said that what are called the “beneficial” interests in property bought in joint names could change because of big changes in circumstances. The property was originally owned 50/50 but the court held this had changed to 90/10.
We can advise you on all aspects of property law. It is now possible to set out at the Land Registry when you buy with someone else what percentages you each hold of the property and you may wish also to have a written agreement between the parties who jointly own the property as to their respective shares, which should be kept under review.
Call Paul Taylor on 020 7024 8012 for further information.