Owning your own home

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Howard in reply to @mustardbeak

I would be suprised if they can claim it from you given you didn't own the flat at the time.

Ummmmm

Your conveyancer should have ensured all service charge payments were settled before completing. Normally they make the seller hold a retention.

Yes but they can't predict the future? So if the Mco find a deficit end of 2018, and the seller sold in mid 2018 the new owner is going to pay. I think. Because nobody else is.

Maybe the terms of lease detail this.

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mustardbeak in reply to @Howard

Slightly muddling my thoughts in the first post.

A decent convayncer will hold a retainer. They then take the proportion up to completion from the seller and the balance after from the buyer. Returning any balance to the seller.

However if that is not in place a quick Google says that the buyer is legally liable. :(

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Howard in reply to @mustardbeak

How much would they retain to cover unknown / unpredicted liabilities that are discovered 11 months later?

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