Any legals about who can clarify this, please?
Virtual freehold - TP1 states that a peppercorn rent is payable.
Conveyancer saying that it is a nominal clause and in reality, I will never receive a rent demand.
I thought the principle of peppercorn was that a nominal amount was demanded in order to keep the relationship between landlord and tenant established. Doesn't the landlord have to demand said rent, even if it's a penny, in order to do this?
I don't understand why a clause would be inserted for the sake of it?
TLDR: my conveyancers are telling me that the mention of rent in the TP1 is nothing to worry about and I'll never receive a demand - is this correct?
Thank you.