Text for Report on Title
ROT: Lease Term - NO mortgage and less than 85 years left
- Change date
- 02/01/2022
- Word count
- 694
- Deployment measure
- 7/10
Rationale
Highly topical explanation to buyers (regardless of whether they are getting a mortgage) about marketability and legal implications of lease where the remaining lease term is less than 85 years.
The remaining term of the lease is for less than 85 years and therefore is not acceptable to certain mortgage companies as security for a mortgage. In fact there are an increasing amount of lenders
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