I purchased a freehold premises in Finchampstead but still charged rent, why is this and what is this?
It is rare for properties in Finchampstead and has limited impact for conveyancing in Finchampstead 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 creation of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
A colleague recommended that if I am buying in Finchampstead I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes included in the estimate for your Finchampstead conveyancing searches. It is not a small document of about 40 pages, listing and setting out significant information about Finchampstead around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Finchampstead Education with plans and statistics, Local Amenities and other useful data regarding Finchampstead.
The deeds to my property can not be found. The conveyancers who handled the conveyancing in Finchampstead 4 years ago no longer exist. Will I be able to sell the house?
You no longer need to hold title original deeds to evidence that you are the registered proprietor of land or premises, given that the Land Registry hold details of all registered land or property electronically.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. Finchampstead is the location of the property. What do you suggest?
Flying freeholds in Finchampstead are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Finchampstead you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Finchampstead may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
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