• Does This TP1 Clause Wording Authorise Creation Of A Sinking Fund?

    By Guest on 02nd Oct 2024

    This is the wording of Clause 2 of my TP1 between the original transferor and Transferee of my property in 1966. I think this does not create a service charge/rent charge or any other means for the current Transferor to ask for an annual lump sum that far exceeds the cost of the maintenance but creates a sinking fund. I have refused to pay more than my share of the costs of actual maintenance/gardening because we have no say how past funds have been spent nor do we have accounts of how it has been spent. My solicitor was told when I purchased my property: “There are no formal arrangements as such, everyone just contributes as and when required.” The new transferor is threatening to take me to court because I refuse to pay whatever sum they ask for each year. I maintain my TP1 does not create authority for such a fund. Who is right?:

    "2.  FOR the benefit and protection of the adjoining land retained by the Transferor or any part or parts thereof and so as to bind the land hereby transferred into whosoever’s hands the same may come the Transferees hereby (jointly and severally) covenant with the Transferor that the Transferees and those deriving title under them will at all times hereafter (1) pay a fair proportion (to be assessed by the Transferor’s Surveyor in the event of any dispute) of the cost of (a)carrying out on the land coloured green on the said plan works of a landscaping nature in a manner first approved by the Transferor and thereafter to maintain the same and the works carried out thereon in a good clean and tidy state and condition so long as required so to do by the Transferor and (b) maintaining and keeping in good repair the land hatched brown and the footpaths coloured brown and the fence between the points marked A and D on the said plan ..."

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