I purchased a freehold premises in Bridgwater but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Bridgwater and has limited impact for conveyancing in Bridgwater but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
Will our lawyer be asking questions about flooding during the conveyancing in Bridgwater.
Flooding is a growing risk for lawyers conducting conveyancing in Bridgwater. Plenty of people will buy a property in Bridgwater, fully expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to impart advice on flood risk, but there are a number of checks that can be carried out by the buyer or by their conveyancers which can give them a better appreciation of the risks in Bridgwater. The standard completed inquiry forms sent to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual inquiry of the owner to find out if the property has suffered from flooding. In the event that the property has been flooded in past and is not disclosed by the owner, then a buyer could issue a compensation claim as a result of such an incorrect response. A buyer’s lawyers may also conduct an enviro search. This should higlight if there is a recorded flood risk. If so, further inquiries will need to be initiated.
I have justfound out that Wolstenholmes have closed. They carried out my conveyancing in Bridgwater for a purchase of a freehold house 12 months ago. How can I check that my home is registered correctly in the name of the former proprietor?
The easiest method to check if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Bridgwater conveyancing specialists.
Just had an offer accepted on a new build flat in Bridgwater. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Bridgwater
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. There must be mutual enforceability of lessee’s covenants. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
How easy is it to use your search tool to select a conveyancing lawyer in Bridgwater on the panel for my lender?
First choose a lender such as Yorkshire Building Society, Virgin Money or Platform Home Loans Ltd then choose your preferred area for instance Bridgwater. Conveyancing organisations in Bridgwater and across England and Wales should be listed.