Rentcharges: Reforms in The Leasehold and Freehold Reform Act 2024, PLUS Other Key Issues — for Conveyancers

Description

Rentcharges (especially estate rentcharges) are causing a range of problems for many freeholders, such as reportedly high costs, lack of transparency, and impact on reselling a property.

Moreover, some lenders have very specific Part 2 requirements about rentcharges, which adds to the duties imposed on residential conveyancers acting on properties subject to such a charge.

The Leasehold and Freehold Reform Act 2024 will also bring changes to the regulation of rentcharges.

As this area of the law is rapidly evolving, the content is liable to change (e.g. as and when new statutory instruments are laid before Parliament).

This live presentation will consider a range of issues pertaining to rentcharges, including the following—

1. Key differences between estate rentcharges and “historic” rentcharges
2. The problematic provisions of section 121 Law of Property Act 1925
3. Issues with a rentcharge lease granted pursuant to section 121
4. Reforms to the regulation of rentcharges
5. Can charges now be demanded for non-payment?
6. Other possible methods for enforcing a rentcharge
7. Indemnity insurance considerations
8. Lender requirements
9. Adverse possession of a rentcharge
10. Apportionment of a rentcharge
11. Release or redemption of a rentcharge
12. Some drafting issues
13. Practical problems arising from private management of amenities on freehold estates
14. New rights to challenge estate management charges
15. Are demands for payment now required?
16. What remedies are or will be available for challenging high charges or sub-standard services?
17. Right to request information and annual reports: the new reforms