• Indemnity Insurance - Selling My Propery

    By Guest on 07th Jan 2020

    Selling my property, which we have had for over 14 years, neither we nor the previous owners (of 25 years) have ever had to pay land rent as per an old covenant found via the land registry dating back to the 1800's. I am told I need to take out indemnity insurance but can't see why as there has never been any monies asked for or paid on this property for nearly 40 years relating to this?

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    By Guest on 08/01/2020

    There is a theoretical risk the purchaser could be asked to pay, and indeed back-pay arrears. Perhaps the new buyer falls out with the beneficiary of the covenant who then looks at his old title deeds and realises he can charge the buyer land rent. Hence the indemnity policy to cover the risk. 

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