Our October newsletter is out and it contains important information affecting property buyers and sellers. Click on the pic to enlarge it and read...
For the reasons set out in our newsletter, here is the suggested wording of a clause that should be inserted in sales agreements to afford property buyers with some form of protection against rates department claims arising after transfer. Of course it does not help if the seller has had his money and bolted, but this is the best one can do in the face of the Council's wide power to grab money from the property owner:
"The Seller hereby guarantees and indemnifies the buyer against any claim existing or that may arise in the future by the local authority in respect of any rates and taxes on the property. In the event of such a claim arising, the Seller undertakes to pay same forthwith on request or to re-imburse the Purchaser with any amounts paid in respect of such claim."
