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Recently asked questions about conveyancing in New Barnet

I am the registered owner of a freehold property in New Barnet yet pay rent, why is this and what is this?

It is rare for properties in New Barnet and has limited impact for conveyancing in New Barnet 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 date back many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.

Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.

Have completed on a a semi-detached house in New Barnet , What is the estimated time for the Land Registry to record my title? My New Barnet conveyancing solicitor has been painfully slow, so I want to be certain the post completion formalities are addressed.

As far as conveyancing in New Barnet registration is no faster or slower than anywhere else in the country. As opposed to being determined by geographic area, timeframes can differ depending on who lodges the application, whether there are errors and if the Land registry communicate with any interested persons or bodies. Currently approximately 80% of such applications are fully dealt with in less than three weeks but some can be subject to protracted hold-ups. Registration is effected after the new owner has moved in to the property so an expedited registration is not typically top priority yet where there is a degree of urgency associated with the registration then you or your solicitor could speak with the land registry and explain the circumstances.

I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. New Barnet is where the house is located. What do you suggest?

Flying freeholds in New Barnet are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside New Barnet you would need to get your solicitor to go 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 New Barnet may decide 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 premises.

As co-executor for the estate of my father I am selling a house in Newport but live in New Barnet. My lawyer (approximately 260 kilometers from merequires that I execute a stat dec ahead of completion. Can you recommend a conveyancing solicitor in New Barnet who can attest and place their company stamp on the document?

strictly speaking you should not be required to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will do regardless of whether they are New Barnet based

Last February I purchased a leasehold property in New Barnet. Do I have any liability for service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Having spent years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in New Barnet. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

Most certainly. We can put you in touch with a New Barnet conveyancing firm who can help.

An example of a Lease Extension decision for a New Barnet premises is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case affected 1 flat. The number of years remaining on the existing lease(s) was 76 years.

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Find out more about how flying freehold can affect your the value of a property.