Hi, I heard at a recent E Mids Empty Prop Forum that the rules had changed and LAs now have to keep the sale proceeds from CPOs for ever if unclaimed. Does anyone know what Act the changes were made by? I am hoping that this wasnt retrospective as we have one that is over 12 years old now and the owner, despite several attempts by us, refuses to make a claim or give us her bank details to transfer the money. We would intend to give her a final chance with a deadline.
Being cash strapped, if I can get my hands on this money I can hopefully start doing CPOs again - at the moment we can only do zero cost interventions on empties.
Martin Cooke, Nottm City.