Property ownership questions?

Property ownership questions?

9:27 AM, 19th June 2023, About A year ago 26

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Hi, I am unsure of what actions we as a family need to take in the situation we are in now. I bought a property in 2009, transferred it to my two children 50/50 in 2010. However, I continued to manage the property, and both children received regular rent in their joint account and they continue to do that to date.

The issue is that the current tenancy agreement is between myself and tenants, not my children. That was set up in 2015 by the estate agents, who said it would be fine in my name when I asked them at the time. Is that still ok?

The other issue is that the tenants have always dealt with myself, and do not know my children. So, when I sent them a section 13 notice from my daughter, who is a legal owner of the property, the tenants asked it to be the same as before which was from me with my name and address and signature. I did that, and all is well for now, but I am not sure how long I can continue managing myself and wish to give it to my children to do manage. The rent is at least £150 less than the similar properties in the area, so that needs to be increased in the right way keeping everyone happy, hopefully.

Any advice for me from any readers?

Thank you all in advance indeed.

Asha


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Julesgflawyer

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8:11 AM, 24th June 2023, About A year ago

Reply to the comment left by Darren Peters at 24/06/2023 - 07:24
... Because, if it's an AST, "giving notice" doesn't end the tenancy. The tenancy doesn't end until the court makes a possession order or the TENANT terminates.

aga smart

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21:33 PM, 26th June 2023, About A year ago

Reply to the comment left by Julesgflawyer at 19/06/2023 - 10:08
Your answer is interesting indeed. Section 13 notice.... do you mean you would advice the tenants for section 13 notice to be invalid when sent by actual landlord ( in this case my daughter), or landlord by estoppel (in this case, it's myself )? My fear is, could they ignore from both? I know I would need a decent solicitor, after trying so far, not yet found one and would appreciate any further response from you.

PS: I had to learn the meaning of "landlord by estoppel" and hope that I understood ok- and making sense to what I have said above.

aga smart

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21:44 PM, 26th June 2023, About A year ago

Reply to the comment left by David at 19/06/2023 - 15:15
Hi David, your answer is little reassuring against some other answers! Not a problem with tax man, that's fully taken care of in our family!

Does this mean there is nothing to do? Even if nothing to do now, when I want to give management to my children, and still the same tenants, which is likely to be, they won't accept the paperwork (section 13 notice) in their name even now, so I don't think they will accept everything changing without a fuss... so that's what making me what to put things right now.

SCP

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1:31 AM, 27th June 2023, About A year ago

Reply to the comment left by aga smart at 26/06/2023 - 21:33English law certainly has a doctrine of [different types] estoppel, and it has been observed judicially that it is difficult to frame a single underlying principle explaining it.
I do not think there is a concept of landlord by estoppel.
You as a landlord could not plead it in your favour.
Your tenant may plead estoppel to prevent you from asserting something contrary to what you have done for, say, last 8 years.
What exactly is it that you want done?
Let sleeping dogs lie.
If you want to reflect the correct situation, then serve a section 48 notice.
The wording can be quite convoluted.
Do you want a draft?

Julesgflawyer

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4:26 AM, 27th June 2023, About A year ago

Reply to the comment left by SCP at 27/06/2023 - 01:31
It's a well understood concept. See Bruton v London & Quadrant Housing Trust. There's an article in Modern Law Review, if you're interested: https://onlinelibrary.wiley.com/doi/abs/10.1111/1468-2230.00272

Kizzie

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17:48 PM, 28th June 2023, About A year ago

I would be thinking about tax situation and serve section 3 and 48 LTA to fulfil regulations to identify to HMRC and the tenants who legally is the landlord to whom service charge must be paid and properly disposed of according to the lease

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