• TP1 Definitions And Agreements

    By Guest on 02nd Dec 2020

    My TP1 states " To pay the Management Company the Transferees Proportion on demand....". In the definitions, "the Transferees Proportion shall mean 1/74 of the management expenses". I am actually being billed for 1/64 of the expenses. I think that the proportion shown in the TP1 is incorrect but am I within my rights to insist that is all I need to pay?

  • 1 Answers

    By NotaryExpress on 03/12/2020

    Subject to there being no other documents (such as a deed of variation) amending the proportion, the general rule is that all parties must abide by the TP1. If it is wrong then the parties should execute a deed of variation to correct it.

    www.notaryexpress.co.uk

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