• Convanancing On Purchase Of Leasehold Properties

    By Guest on 05th Jun 2015

    Is it a legal requirement for solicitors to submit a general lease enquiry too management companies on the purchase of leasehold properties

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    By Guest on 05/06/2015

    There is no "legal requirement" as such to make any enquiries at all in respect of purchase. There is however a duty to use due diligence to protect the client's interests and in the case of a purchase of leasehold property this does usually necessitate making enquiries of the person or company responsible for managing the building and common parts (i.e. the landlord or managing agent). The enquiries are designed to ascertain certain information which ought to be material to the buyer in deciding whether to proceed with the purchase. If the purchaser is buying with a mortgage then the mortgage lender will insist the enquiries are answered even if the purchaser isn't interested

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