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Pre-emption in favour of Housing Association
Pre-emption in favour of Housing Association
Posted
Wed, 30 Oct 2024 12:02:27 GMT
by
Arja Peckham
I am in process of buying a freehold property that has a transfer which contains a right of pre-emption in favour of a Housing Association till November 2036.
Does that mean that the Housing Association has the ownership of the land till 2036 and that after that it is mine or that then they will sell it to me?
I thought that if I buy a freehold property, the land is included in the price that I pay.
Thank you very much
Posted
Wed, 30 Oct 2024 12:24:41 GMT
by
Adam Hookway
Aria - a right of pre-emption is a right granted to someone to purchase land, should they so wish, before it is sold or offered to another person.
So the HA don't own the land but they have a right of 'first refusal' I suspect re any purchase. Very much a Q to raise with your seller as the HA may have waived their right but you would then need evidence of that
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