On ‘The One Show’ last night there was an interesting and informative discussion on how chancel repair liability is currently affecting people and also how the change in the law will affect clients and yourselves after the 12th October.
The programme that was aired gives important information on what changes occur after the 12th October.
The programme is a great way to inform colleagues and clients if unsure about what the implications are of the impending date.
Please click here to view the programme on iPlayer (Starts approximately 2 minutes into the show – only available for 7 days).
– Chancel Repair Liability will still affect properties that transact post the 12th October 2013. As only 5% of properties transact in the UK every year, this leaves 95% of properties still vulnerable after year 1. (Please note that this 5% is not all new properties, as many are re-transacted in following years).
– The liability only falls away at the point of first or next registration of a title after 12th October 2013.
– The option for the church to register a liability against a property is only removed after a property has transacted for valuable consideration (i.e. not for a nominal amount or by way of inheritance/gift etc.).
