Cross lease - power of sale by other lessors?

Forums › Off topic › Cross lease - power of sale by other lessors?

mb82

227 posts

Master Geek
+1 received by user: 16

#293087 27-Dec-2021 15:22

Just wondering if this is normal for cross lease? Was looking at a house and got sent the memorandum of lease which explains the covenants etc which in plain English to my understanding sates you must not cause disturbance / noise to other lessors. Then there is mention of a paragraph called 'power of sale of lease's flat by lessors' for market rate if covenants are broken.

I translate this in plain english to mean if you have a pesky neighbor that knows a thing or two about law and decides they have a problem with your Sunday lawn mowing, occasional music/bbq or power tools at the weekend they have the power to basically evict you by forcing you to sell for market value.

Is this normal for cross lease ?

MikeB4

MikeB4
18775 posts

Uber Geek
+1 received by user: 12766

ID Verified

Trusted

Subscriber

#2839150 27-Dec-2021 15:55

When it comes to property consult your lawyer. Mistakes can be very costly.

Here is a crazy notion, lets give peace a chance.

scuwp

3927 posts

Uber Geek
+1 received by user: 2510

#2839165 27-Dec-2021 17:01

Self-interpreting legislation and contracts never ends well. Go see a lawyer before you sign anything.

Lazy is such an ugly word, I prefer to call it selective participation

mb82

227 posts

Master Geek
+1 received by user: 16

#2839211 27-Dec-2021 18:38

Pretty simple question. I would get a lawyer to look over it if I actualy went ahead with it.

Goosey

3016 posts

Uber Geek
+1 received by user: 870

Subscriber

#2839383 27-Dec-2021 23:06

Not only consult legal advice, actually ask them questions about what you are assuming in your post above.

Geektastic

18009 posts

Uber Geek
+1 received by user: 8465

Trusted

Lifetime subscriber

#2839384 27-Dec-2021 23:20

scuwp:

Self-interpreting legislation and contracts never ends well. Go see a lawyer before you sign anything.

This.

Personally I would be very unlikely to buy anything with a cross lease title in it. If the road to Hell is paved with good intentions, many of those good intentions were property purchases that relied on assumptions about human behaviour!

YMMV.

mb82

227 posts

Master Geek
+1 received by user: 16

#2841541 1-Jan-2022 19:53

When did this forum decide to be unhelpful

Dyson

Shop now for Dyson appliances (affiliate link).

cokemaster

Exited
4937 posts

Uber Geek
+1 received by user: 1089

Retired Mod

Trusted

Lifetime subscriber

#2841594 1-Jan-2022 20:02

They’re not trying to be unhelpful. You are asking a legal question on an IT-electronics forum… we are not lawyers and don’t want to steer you wrong by giving you incorrect advice.

As someone who has done a few property transactions including some quite recently, I’ve come to appreciate having an experienced property lawyer in my corner… I think you need to engage one to get a full understanding of your rights and where you stand (if you proceed with such a transaction).

webhosting

Loose lips may sink ships - Be smart - Don't post internal/commercially sensitive or confidential information!

Jase2985

13730 posts

Uber Geek
+1 received by user: 6202

ID Verified

Lifetime subscriber

#2841596 1-Jan-2022 20:05

@mb82:

When did this forum decide to be unhelpful

how is it unhelpful?

no one likely knows the answer so have pointed you in the direction of where you can find one.

it looks like you have chosen to not like the answer given to you,

mb82

227 posts

Master Geek
+1 received by user: 16

#2841601 1-Jan-2022 20:19

I posted in off topic. If I wanted to ask a lawyer I would but considering they charge $20k a minute I thought I would ask here, in off topic, just to be told ask an expert, which defeats the purpose of an off topic forum. I see another question on here asking about pet insurance basically the same as telling them to ask an insurance expert. Maybe you are right, no-one here knows the answer, I thought there would be enough people here who have purchased properties to know if it was common for cross lease or not. Maybe not hence why I am interpreting attempts to help as not helping

Jase2985

13730 posts

Uber Geek
+1 received by user: 6202

ID Verified

Lifetime subscriber

#2841604 1-Jan-2022 20:31

where are you finding these 20k per minute lawyers? time to go looking elsewhere i think.

for something like property its always best to ask a professional as if you take the advise of someone on an internet forum and it turns out to be wrong then what? protect yourself.

freitasm

BDFL - Memuneh
80652 posts

Uber Geek
+1 received by user: 41036

Administrator

ID Verified

Trusted

Geekzone

Lifetime subscriber

#2841664 1-Jan-2022 20:41

I have paid a lawyer and it was more like $ 1000 per hour.

But the sentiment is still the same. You asked for people to confirm your understanding (confirmation bias) or say it is wrong. Most people correctly avoided the responsibility and gave the right answer.

Consult a lawyer. Also I am locking this thread. If a lawyer wants to contact the OP via PM, go for it.

Referral links: Quic Broadband (free setup code: R587125ERQ6VE) | Samsung | AliExpress | Wise | Sharesies

Support Geekzone by subscribing (browse ads-free), or making a one-off or recurring donation through PressPatron.