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Remove Option Field from the Redemption Agreement

Remove Option Field from the Redemption Agreement

Aug 6th, 2022

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

Why is there a rent charge on a freehold property?

Introduced mainly in the late 19th and early 20th century, rentcharges were put in place when landowners wanted to sell land at a reduced cost to developers. They would sell the land on a Freehold basis but would retain a legal interest in the land and charge an annual fee or rentcharge in place forever.

Can a rent charge be removed?

You can apply to buy out (redeem) your rentcharge so that you no longer have to pay it (see How to redeem your rentcharge). If your house is one of a number of houses charged under one rentcharge, you may first need to get your share apportioned legally (see How to legally apportion your rentcharge).

How do I remove a rentcharge from my title?

Details. Use this form to enter a unilateral notice (an entry made in the register about a third party interest affecting a registered estate or charge).

How do I remove an unilateral notice from the Land Registry?

Can you sell a property with a unilateral notice? Yes. Restrictions restrict dispositions where notices only gain the beneficiary notice of the disposition. However, common misconceptions around the function of unilateral charges can deter buyers.

How do I get rid of rentcharge?

Unlike a mortgage there are no provisions to end a Rentcharge lease once arrears are settled, meaning the property owner may be held to ransom until it pays a fee for surrender of the lease.

How do I remove a rent charge from the land Registry?

Statutory redemption This is only possible if the total amount due under the rentcharge can be calculated. On redemption of an applicable rentcharge, the owner will be provided with a redemption certificate which can be submitted to HM Land Registry to remove the entry from the title register.

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