Assignment

Download our PROCEDURE STATEMENT

Assignment (i.e. transfer of your flat to a buyer)
 
A Deed of Covenant between the purchasers and B.A.M. Estate Limited is required, a draft of which is set out below.
 
Please complete and return a completed draft Deed of Covenant to our solicitors (see below) for approval, together with their fee of £200.00 plus VAT. They will then send an engrossment for signing by the purchasers. No amendments will be accepted.

Estate Mangement (Hampstead) Ltd do not provide a ‘Management Pack’ but will reply to all enquiries in writing through the vendors solicitors.  We must advise you that we make a charge of £350.00, payable in advance, for our costs incurred in responding to all enquiries in respect of a transfer.  The purchasers are welcome to call in at the Estate Office with queries, during normal office hours.

An assignment to a Company or other corporate body will not be permitted.An assignment to an existing leaseholder on the B.A.M. Estate will not be permitted. Estate Mangement (Hampstead) Ltd therefore require that they are advised of the identity of the prospective purchaser, and provided with a certified copy of their passport or other means of identification before proceeding.
 
Only if a numbered coal bunker and /or storage shed/locker is specifically referred to in the lease may the use be transferred to the purchaser. B.A.M. Estate will take re-possession of any other coal bunkers/sheds/cellars/lockers which the lessee has been allowed the use of.
 
Following completion, our solicitors will need to receive the following:-
 
1.1 Deed of Covenant signed by the purchaser
1.2 Notice of Transfer
1.3 Notice of Charge (if any).
1.4 Certified copy of Charge (if any)
1.5 The original Share Certificate.
1.6 Signed and stamped Stock Transfer Form in favour of the Buyer/s.
1.7 HM Land Registry form TR1.
 
Please note our solicitors are instructed not to register any dealings until all the above items have been provided, all fees settled, and payments of Service Charge and Ground Rent are up to date.

Our solicitors are Messrs Manuel Swaden, DX 53654 – West Hampstead or 340 West End Lane, London NW6 1LN. Telephone number: 020 7431 4999, Facsimile: 020 7794 9900. Contact: Tamara Lester.


DEED OF COVENANT
 
DATED …………………………………………………………………..20…….
  
 
The Demised Premises
 
THIS DEED OF COVENANT is made the day of
 
BETWEEN
 
(1) B.A.M. ESTATE LIMITED whose registered office is at The Estate Office 18b Avenue Mansions Finchley Road London NW3 7AU (“the Landlord”) and
 
(2) [NAME AND ADDRESS OF NEW TENANT] of [address for service of the New Tenant] (“the New Tenant”)
 
WHEREAS
 
(A) By a Lease (“the Lease”) dated [ ] and made between [ ] (1) and [ ] (“the Tenant”) (2) all that Property known as Flat [ full address ] together with the rights but subject to the exceptions reservations covenants and conditions contained was demised unto the Tenant for a term of [ ] years at the rent and on the terms therein contained
 
(B) The Lease contains a covenant by the tenant not to assign the demised premises without simultaneously obtaining a written covenant by the New Tenant with the Landlord to observe and perform the covenants on the part of the tenant and to pay the rents
 
(C) The residue of the term of years granted by the Lease is to be transferred to the New Tenant and the reversionary interest immediately expectant thereon is now vested in the Landlord
 
(D) Where the New Tenant is two or more persons their obligations to the Landlord are joint and several
 
 
NOW THIS DEED WITNESSES that the New Tenant HEREBY COVENANTS with the landlord that as from the date of the assignment of the Lease thenceforth during the residue of the term granted by the Lease the New Tenant will pay the rent thereby reserved and observe and perform the covenants and conditions on the part of the tenant therein contained
 
 
IN WITNESS whereof this instrument has been executed as a Deed the day and year first before written
 
SIGNED as a DEED by
[name of assignee]
in the presence of:-
 
Witness signature
Witness name
Address
Occupation


SIGNED as a DEED by
[name of assignee]
in the presence of:-
 
Witness signature
Witness name
Address
Occupation