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Category: Law
Satisfied Customers: 339
Experience:  Expert
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I am a director on a RTM company in England, and have been

Customer Question

JA: Hi. How can I help?
Customer: i am a director on a RTM company in England, and have been asked by a leaseholder who is selling his flat, to fill in an LPE1 and 2 form. Is it advisable to leave this to the management agent that the RTM employs, rather than providing the data from my end? Conscious of the liability that comes with the representations made.
JA: What steps have you taken so far? Have you prepared or filed any paperwork?
Customer: manager thanks, regards.
JA: Have you talked to a lawyer about this?
Customer: Not tallied to a lawyer yet, and just reviewing the LPE form, nothing signed at this stage.
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: I don’t think so. Pls advise of any cost associated if you connect me, though, many thanks.
Submitted: 18 days ago.
Category: Law
Expert:  MatthewM1117 replied 18 days ago.

Good morning thank you for contacting Just Answer my name is***** am a solicitor and I will be assisting you today. It is best practice for the company who has the day to day running of the leasehold properties to complete the LPE1 and 2, as they will be able to provide the required information that the buyer is looking for.

Management companies can charge anywhere between £200 to £400 for completing an LPE1/2 form and providing a management pack (if they do this) the cost of this will be paid for by the seller.

Customer: replied 18 days ago.
Thanks a lot, Matthew, noted. Assuming I have the information that is required as part of the into pack myself, and should therefore theoretically be able to provide the info, would you say that there is still a compelling argument for me to not do so, liability wise, in particular? We have in place a D&O insurance; would this provide coverage against that risk, in case any inaccurate or incomplete information has been provided (on the basis of to the best of my knowledge). Many thx.
Expert:  MatthewM1117 replied 18 days ago.

The LPE1 should only be completed within your knowledge, if you are unsure of any of the questions your response should be that you are unsure and/or refer to management company. That way there should be no liability issues once you have completed the LPE1.

It may be that the buyers request that the RTM and the management company complete LPE1's which is sometimes the case and then they collate the infromation together from both parties.

Expert:  MatthewM1117 replied 18 days ago.

Hopefully, I have answered your question but if anything remains unclear I will be happy to assist you further.