Thousands of homes in London were former council properties which have subsequently been sold to sitting tenants.
When councils sell under the statutory discount scheme, various provisions will automatically be incorporated in any transfer made pursuant to the 1985 Act. These include rights for owners to use access roads and footpaths crossing the remainder of the council estate, and shared drains and sewers. Many council conveyances do not include express provisions for the use of such common facilities, so Conveyancing Solicitors acting for buyers need to check that a property has been transferred under the provisions of the Act.
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Where a house is being acquired from the original tenant-purchaser, there will be a note in the register referring to the discount. If the property is sold within a certain period from the sale by the council, formerly three years but now five, the buyer may be required to repay a proportion of the discount. Therefore, anyone subsequently buying the property within the original discount period will need to ensure that the appropriate amount is repaid, so that the note in the title register will be removed. Conveyancers will require Solicitors acting for vendors to take the necessary action to ensure that this is done.