Quiz - how well do you understand your lease?
Understand the key things you should know about your lease. If you are a purchaser, this can help make sure your solicitor has covered all of these points and explained them clearly to you.
An exit fee (sometimes referred to as a transfer fee) is a charge levied by a landlord at the point of sale of a leasehold retirement property. The obligation to pay these fees is normally fixed by the covenants in the lease. The method of calculating these fees are also fixed by the covenants in the lease. There is no legislation governing exit fees as this is a private contract entered into by both parties.
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