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tdlawyer
tdlawyer, Lawyer
Category: Law
Satisfied Customers: 1096
Experience:  11 years experience of general practice.
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A new company has taken over the receipt of Ground Rent for

Resolved Question:

A new company has taken over the receipt of Ground Rent for my property.
They want one of two things. Either for us to buy the Ground Rent outright for £150 - or to carry on paying £6 pa. The previous family collecting the Ground Rent have all died off. We have been issued with this request together with a demand for £18 being the sum that has not been collected over the last three years. I am in my 70's my wife is in her mid-eighties.
There is no family to leave the property to.
What would your advice be ?
Submitted: 3 years ago.
Category: Law
Expert:  tdlawyer replied 3 years ago.

tdlawyer :

Hello, thank you for your question.

tdlawyer :

My name is XXXXX XXXXX I can help with this.

tdlawyer :

If you do not intend to leave the property to a third party, you might take the view that continuing to pay six pounds per annum is the better option.

tdlawyer :

However, if you are minded to sell the property, then releasing yourself (and subsequent owners) from the obligation to pay ground rent might be worth considering. But it would still take 25 years or so to equate to £150 of rent.

Customer:

Thankyou for confirming my own thoughts. It is pleasing to have a second opinion that concurs with one's own opinion. You now have my permission to go and put your own kettle on !

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