New Clause 35 - Duty to notify purchasers of liability for estate management charges

Part of Leasehold and Freehold Reform Bill – in a Public Bill Committee am 3:45 pm ar 30 Ionawr 2024.

Danfonwch hysbysiad imi am ddadleuon fel hyn

“(1) The Secretary of State must by regulations make provision to ensure that any purchaser of a property which is subject to estate management charges—

(a) is notified about their liability for estate management charges at the point at which an offer is accepted by the seller on the property; and

(b) is provided with the most recent set of accounts of the property management company.

(2) Regulations under this section—

(a) must be laid within 24 months of the date of Royal Assent to this Act,

(b) shall be made by statutory instrument, and

(c) may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.”—

This new clause would require the Secretary of State to make regulations to ensure that purchasers of properties subject to estate management charges are notified of those charges.