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my name is ***** ***** I will help you with this.
Was it a condition of the lease that you were informed of such material decisions please?
no-was not aware of these dicsussions
........and in my view, by having this encumbrance place on the property at the start of the lease, it devalued the property at the start of the lease.
Ok, I am not sure of the link between T and an agency?
What is the fee between them how does it relate to the property?
the fee is based on a percentage of teh property value......., say 3.5% pa. this is "rendeded". PE acquired T over 2 years ago and have never met teh agent, and are wondering why these payments are being made.however,
T (ie the main diirector of T) and agency, other than being good buddies, apparently are unconnected
so if the property was worth £500k, then agent would be paid £17.5k per year, indefinitely-as long as the property continues to be used-even if PE brought it themselves and cancels the existing lease with T (which is now a subsidiary company of course).
ok popping out 40 mins
Sorry I was in Court. So there is a contract between T and this agent, what do they actually do?
the agent was suppose to introduce property investors
But what has the agreement T signed got to do with you?
I dont see how you can be held against a contract signed by someone else?
the agreement effectively place an encumbrance on my property without my knowledge-i am not able to dispose of it as i see fit
Is there any restriction at the Land Registry?
Ok, then I cant see why you can't dispose of the property.
There is nothing at the Land Registry, there is no contract between you and the agent, therefore you can't be bound
This is a contractual dispute between T and the agent.
Its nothing to do with you.
PE need to sort it out with the agent. There is simply no contract between the agent and you.
Can I clarify anything about this today please?
ok that about clarifies it then. thanks
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