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Security for expenses under the Party Wall etc. Act 1996: What? When? How?

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  • Rust, Mikael

Abstract

‘Until recently, the security provision was a little used element of the Party Wall Act but in light of the current economic climate it is becoming more common for Adjoining Owners to request security to be given.’1 2010 This trend has accelerated with the continuing increase in basement extensions and a growing reluctance of building owners to meet their obligations under the Act. Guidance on security is confused, out of date and often wrong and, since solicitors were warned in December 2014 by the Solicitors Regulatory Authority against offering banking services, the practical difficulties of arranging security have caused many surveyors to neglect this important right of adjoining owners. This paper reviews the guidance and solutions available.

Suggested Citation

  • Rust, Mikael, 2017. "Security for expenses under the Party Wall etc. Act 1996: What? When? How?," Journal of Building Survey, Appraisal & Valuation, Henry Stewart Publications, vol. 5(4), pages 345-356, March.
    • Handle: RePEc:aza:jbsav0:y:2017:v:5:i:4:p:345-356
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    More about this item

    Keywords

    security; security for expenses; party wall act; party walls; section 12;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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