Hello Everyone,
We are about to purchase a freehold residential property.
We received a draft contract which contains these “Specified Incumbrances” :
“All those matters referred to in entries 1, 2, and 3 of the Charges Register
for which the Buyer will indemnify the Seller in the Transfer upon completion”
We understand the 1st sentence :
“All those matters referred to in entries 1, 2, and 3 of the Charges Register”
But we were given no explanation for the 2nd sentence :
“for which the Buyer will indemnify the Seller in the Transfer upon completion”
Is it normal to have this 2nd sentence written in the “Specified Incumbrances” ?
Your time and insight would be much appreciated !