@LKPleasehold @suejbright A problem with leasehold & it will be as much of a problem with new build freeholds into which developers are now introducing a range of charges & restrictive covenants is that the quantity of important information is almost too much for buyers to assimilate; there is an ... 1/
@LKPleasehold @suejbright ... “understanding deficit” (my description), which studies have consistently picked up, even when everything has prima facie been explained properly & for which lazy stock rationalisations (“people don’t read things properly/pay attention“) cannot fully account. My view is ...2/
@LKPleasehold @suejbright ...that the way in which information is imparted needs to be looked at & not just from the legal perspective of what is the important information that needs to be imparted but from the psychological/cognitive perspective of how perhaps over a dozen key pieces of legally ... 3/
@LKPleasehold @suejbright ...crucial information about a house purchase can reliably be communicated to buyers, so that the understanding deficit can be brought down to whatever is the irreducible minimum; at present among 1st time leasehold buyers the figure (this is a Twitter simplification) is 30% ..4/
@LKPleasehold @suejbright , which is too high. I’m not sure the world is ready for this suggestion because when I floated it in my ‘Leasehold Conveyancing Avoiding the Pitfalls’ @ConferencePip last year, it produced the one ‘tumbleweed moment’ of the session, although it didn’t have the same effect ...5/
@LKPleasehold @suejbright @ConferencePip ...when I mentioned it in my talk to @CAtradebody in Bristol later in the year, so perhaps there is hope. If any of the legal academics out there have psychologist colleagues who might be interested in doing some joint legal/psychological research please let me know. ...6/
@LKPleasehold @suejbright @ConferencePip @CAtradebody ... I just mention @RichardMoorhead (apropos of nothing at all, of course) that you are right on my doorstep & @lawvaughan that there’s a natural overlap with legal ethics & @UCLLaws is my old college!!!
