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Alex J.
Alex J., Solicitor
Category: Property Law
Satisfied Customers: 3519
Experience:  Two years conveyancing experience.
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I am thinking of buying my late fathers bungalow which is

Resolved Question:

I am thinking of buying my late father's bungalow which is now owned by his 4 daughters. The field at the back of the property may at sometime be used as building land and 1 possible access to it would be through the garden of the bungalow. My father refused to sell the garden a few years ago, so we know it is a possibility, although the council has said that the field is flood plain and is also contaminated so cannot be used as building land..
2 of my sisters are insistent that they want a covenant put on a strip of the garden so that they or their children will benefit from this ransom strip in the future. I can see their point of view, but I feel that the value of the property would be reduced and/or more difficult for me to sell in the future, if ever I needed to, if they go ahead with having this clause put on whilst I am buying it.
Also, if the field is used as building land but the garden is not needed for access, then my point is that, not only would the value of the property be reduced because of the clause, but it would be further reduced because of the loss of the open views.
It has been valued at around £200,000 or 180-190 for a quick sale and has been on the market for 1 year with no potential buyer. I have offered £190,000 but think I should pay less if there is a clause on it when I buy it. I have said that, as family, if, on owning the bungalow, I profited from the sale of the garden we would all benefit equally. Obviously this promise is not enough and I am at a loss what to do. My other sister has no children and wants a quick sale without a clause.
Submitted: 2 years ago.
Category: Property Law
Expert:  Alex J. replied 2 years ago.
Hi,

Thank you for your question and welcome.

My name is XXXXX XXXXX I will assist you.

What do you intend to do with the bungalow?

Does the strip require the whole garden?

Have you had a formal valuation if this blight to the title was included?

Kind regards

AJ
Customer: replied 2 years ago.

,Hi Alex


I would live in the bungalow with my partner as joint owners, we have 2 properties to sell.


The strip would probably need a third of the garden.


We havnt been given a definite valuation with a clause, the estate agents couldn't say for definite but said it would reduce the value and put potential buyers off.


Thank you


Pam

Expert:  Alex J. replied 2 years ago.
Hi,

Thank you.

It is difficult but really the decision is out of your hands as the sellers have to be prepared to sign on the terms they require.

What you could do is:
1. Have the house independently revalued and try and agree a lower price for the strip.
2. Put a time limited option on the strip that only comes into force if a developer buys the land at the back or you do not sell the property. If you sell the property to a third party you agree the option falls away.

Do you currently own part of a share in the property?

Kind regards

AJ
Customer: replied 2 years ago.

yes I own a quarter of the property

Expert:  Alex J. replied 2 years ago.
Hi,

Thank you.

So is it only one of the sisters that is insisting on this clause?

Are all four of you the registered legal owners or are some of beneficial owners of the property?

Kind regards

AJ
Customer: replied 2 years ago.

All 4 of us are the registered legal owners.


 


1 sister wants to sell the property with a clause, another sister is swayed by her argument and is worried that she may lose out financially is she doesn't have a clause.


 


1 sister wants to sell the property without a clause


 


 

Expert:  Alex J. replied 2 years ago.
Hi,

Thank you.

Unless you can amicably reach a resolution to it then the only option would be to apply to court forcing a sale.

I personally believe that an option registered against the land with time limit is the best way to go.

Presumably if the development is to happen it will happen in the next 10 years - with our current need for housing in England and Wales?

Kind regards

AJ
Alex J., Solicitor
Category: Property Law
Satisfied Customers: 3519
Experience: Two years conveyancing experience.
Alex J. and other Property Law Specialists are ready to help you
Customer: replied 2 years ago.

Thank you for your help


 


Regards


 


Pam

Expert:  Alex J. replied 2 years ago.
Hi,

No problem.

I would note that it would be worth getting an independent valuation as it would potentially break the deadlock in trying to reach a resolution.

I wish you the best of luck.

Kind regards

AJ

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