• Parking Ownership Dispute

    By Guest on 12th Mar 2020

    Parking
    5. The right to park one car that is owned by the Transferee only in one of the spaces in the area hatched black on the plan until such time that the Transferor serves notice in writing on the Transferee that the land hatched black is to be developed. Once notice has been served, the Transferee will no longer have the right to park on the land hatched black on the plan.

    The above was written in the parking section of a TP1 which was received from the sellers solicitors. The property was advertised as coming with parking space but in the form it has been listed as a revocable right. Is this correct? And will it effect the help to buy and mortgage lender requirements if the forms and valuations from them was based on the house having parking. Will the terminology in regards to the parking used be approved by land registry?

  • 1 Answers

    By NotaryExpress on 13/03/2020

    Correct. Your conveyancer should report to the valuer that the car parking is revocable to ensure it does not affect the valuation. As regards the terminology I would advise checking with HM Land Registry directly but it seems ok.

    www.notaryexpress.co.uk

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