I purchased a freehold property in Irlam but still charged rent, why is this and what is this?
It’s unusual for properties in Irlam and has limited impact for conveyancing in Irlam 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 extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
Various internet forums that I have visited warn that are the number one cause of delay in Irlam conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of delay in conveyancing in Irlam.
I purchased a 4 bedroom Georgian house in Irlam. Conveyancing practitioner represented me and . I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold under the exact same address. Is it worth asking to clarify?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Irlam and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with your conveyancing solicitor who conducted the conveyancing.
I am buying a new build flat in Irlam. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Irlam
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
Please supply a car parking plan.
Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
My husband and I are novice buyers - agreed a price, but the property agent told us that the vendor will only go ahead if we use the agent's recommended conveyancers as they are insisting on a ‘quick sale’. We would rather use a local solicitor accustomed to conveyancing in Irlam
We suspect that the owner is unaware of this ultimatum. Should the vendor require ‘a quick sale', turning down a genuine purchaser is going to damage their objectives. Speak to the vendors direct and make sure they understand (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you do not need to sell (d) you wish to move quickly (e)however you are going to use your own,trusted Irlam conveyancing firm - not the ones that will provide the negotiator at the agency a introducer fee or meet his conveyancing figures set by corporate headquarters.