8:18 AM, 29th January 2014, About 10 years ago 13
Hi all, I have been looking at sales particulars for 3 bed house which is subject to a lifetime tenancy. It is valued at £195,000 with vacant possession and is for sale for £82,000.
I would very much appreciate your thoughts and any advice you can offer.
The details are as follows.
During the Life Tenants’ occupancy, they will maintain the property covering all associated expenditure, including:
When the Life Tenants vacate the property permanently, it is yours to do with as you wish but until then if any one purchases the property, there is no rent paid by the tenants so no rental income can be made. Also the buyer can not live in the property until its vacated by the life tenants.
It is only possible to view the property only via photos.
The buyers name will be on the land register and property title under the following conditions:-
So it seams all you can do is either wait years for vacant possession or try to sell for a profit.
Any advice and opinions would be most welcome.
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