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What would Derwent Living do if you sublet a 50%owned flat?


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If you buy a 50% share in one of those schemes, like those flats down Kelham Island and your circumstances change, what would Derwent Living or who ever owns the other half do if they caught you subletting it?

 

Technically, you are not allowed. But what happens if you do? I am sure some probably are, so do Derwent turn a blind eye unless a complaint is made or do they actively look for such activities?

 

Anyone tried it?

 

:)

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In any lease (shared ownership, 'normal' long lease, business premises, or even an AST), there are covenants/obligations that bind T.

L can take action against T in case of breach- this could include claiming any/all of:

a. damages;

b. "Specific Performance" [= Court Order explicitly obliging T to comply]; or

c. forfeiture- the most drastic outcome and one which T is given every chance to avoid ("Relief against Forfeiture").

 

And, in all cases, L will claim its legal fees and Court costs against T. So it's never a good idea to commit a breach.

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Oh of course, but do they come round and do checks on the property?

I have no idea, but L is entitled to inspect (on reasonable advance notice, except in case of emergency).

 

---------- Post added 16-12-2012 at 14:38 ----------

 

I have a property on a 50% shared ownership basis. I sublet it with the prior permission of both mortgage provider and the housing association. So it is possible under certain circumstances.

Yes. I hope that you also notified the building insurer (assuming that you insure it direct, rather than on a block policy).

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just check the lease. you'll need to consult derwent and your lender if you have one (assuming your 50% is subject to a mortgage). I know we have allowed it in the past, especially if its for a good reason and you intend to return at some point in the future, ie going into the armed forces. Let us know how you get on?

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