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Contributions by Five Paper Experts

1

A client is purchasing a 999-year commercial lease created in 1853. It is a sublease created out of a 999-year head lease created in the same year. The head lease is subject to a £16 per annum rent charge. The sublease is subject to a £6 per annum rent charge and a covenant to comply with covenants in the head lease. The seller has advised that the rent charges have never been collected or paid during their ownership. What is the risk to the client of the existence of the rent charges and is there any protection available?

A client is purchasing a 999-year commercial lease created in 1853. It is a sublease created out of a 999-year head lease created in the same year. The head lease is subject to a £16 per annum rent charge. The sublease is subject to a £6 per annum rent charge and a covenant to comply with covenants in the head lease. The seller has advised that the rent charges have never been collected or paid during their ownership. What is the risk to the client of the existence of the rent charges and is there any protection available?

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