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Topic - Property question for legal types

Rob Exile Ward on 25 Mar 2014
Yes, we're taking advice but I think this question is outside our solicitor's comfort zone.

We're trying to buy a tenanted property but the current owners are insisting on handing the bond back to the tenants on completion. I can see their point of view - they don't want to be liable if we run off with the bond - but on the other hand we will be left with no protection at all against the existing tenants wrecking the place, at least until we extract a bond from the tenants ourselves (which they could of course refuse to pay.)

This situation can't be unique so I'd be interested to know what the standard formula is for handling this - some sort of escrow?
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