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F E Smith
F E Smith, Advocate
Category: Law
Satisfied Customers: 9032
Experience:  I have been practising for 30 years.
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I am currently renting a property which is currently valued

Resolved Question:

I am currently renting a property which is currently valued at 70.000 I am agreed to carry out substantial home improvements with my landlord and anything above 70.000 on sale would be owed to me, would I need to register this agreement ? Advice please
Submitted: 9 months ago.
Category: Law
Customer: replied 9 months ago.
I am paying a rental fee of £110.00 per week
Expert:  F E Smith replied 9 months ago.

Will the landlord agree to give you a charge or a restriction against the property?

Customer: replied 9 months ago.
I will ask I have already undertaken improvements and have all receipts, photos etc
Expert:  F E Smith replied 9 months ago.

The best way of protecting your investment in this property is to have a deed of agreement drawn up in respect of the eventual sale price and your interest in the property register a charge against the property. That make sure that the property cannot be sold or remortgaged without you being paid.

Not quite as good as a restriction on the property which says that the property cannot be sold or remortgaged without confirmation from the conveyance that the terms of the deed have been complied with (you being paid).

Both will require the property owner’s consent. Either can be done by any competent conveyancing solicitor for a few hundred pounds.

If the property owner is reluctant to do either of the above, don’t do any more work until such time as your position is protected.

Can I clarify anything for you?

Please rate the service positive. It’s the process by which experts get paid.

We can still exchange emails. Best wishes.

FES.

Customer: replied 9 months ago.
Thanks for the advice brilliant service
Expert:  F E Smith replied 9 months ago.

I am pleased to have helped. Please dont forget to rate positive as it pays me my fee. Thanks

F E Smith, Advocate
Category: Law
Satisfied Customers: 9032
Experience: I have been practising for 30 years.
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