YRLA Presentation June 2009 

Legal Health Check for Buying and Owning Investment Property 

By Barbara Jacobs of Barbara Jacobs & Co 

 

Introduction 

Not to cover -Tenancy agreements/legal requirements for letting /tenants deposit schemes 

Will cover the following -Review of Freehold Purchase 

. Extent of Property 
. Restrictive covenants 
. HMO’s 


Leasehold Purchase of Flats- new build and conversion 

General Principles 

Structure of the Lease 

Specific Issues 

. Extent of Property 
. Length of Lease 
. Ground rent 
. Covenants-user clause and requirements for letting 
. Maintenance of the Development and the Service charges- what to look out for 


Conclusion for Leasehold property purchase 

Investment Property Ownership as part of an Overall Investment Strategy 

. Part of Big Picture 
. Work as part of a Team with Independent Financial Adviser, Accountant ,Property 
Lawyer,Mortgage Adviser, Surveyor and Managing Agent 
. Maximise income and Capital Growth 
. Reduce Tax Liability 
. Structure of Ownership- joint tenants/tenants in common/ company ownership 
. Varying beneficial ownership 
. Gifts – lifetime and on death 
. Forward Planning 


Conclusion