I am the registered owner of a freehold house in Old Colwyn yet invoiced for rent, why is this and what is this?
It is rare for properties in Old Colwyn and has limited impact for conveyancing in Old Colwyn 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 hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
I appreciate that there are debates on Chancel Insurance on online forums. Am I compelled to have this when purchasing a residence in Old Colwyn? or Apparently there is an ancient law that means some house owners living in a parish church boundary may be liable to contribute towards maintenance to the chancel within the church. Is this suitable for conveyancing in Old Colwyn?
Unless a prior acquisition of the premises completed post 12 October 2013 you could assume that solicitors delivering conveyancing in Old Colwyn to remain encouraging a chancel search and or insurance against a claim.
I have justbecome aware that Wolstenholmes have closed. They conducted my conveyancing in Old Colwyn for a purchase of a leasehold apartment 18 months ago. How can I be sure that the property is in my name in the name of the previous owner?
The easiest way 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 Old Colwyn conveyancing specialists.
Am I better off to instruct a Old Colwyn conveyancing solicitor based in the vicinity that I am hoping to buy? I have an old university friend who can execute the legal work however they are based 400miles drive away.
The primary upside of using a local Old Colwyn conveyancing firm is that you can pop in to execute documents, present your ID and pester them where appropriate. They will also have local intelligence which is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If if people you trust instructed your friend and on the whole were impressed that should surpass using an unknown Old Colwyn conveyancing lawyer just because they are round the corner.
My wife and I purchased a leasehold flat in Old Colwyn. Conveyancing and The Mortgage Works mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Old Colwyn who previously acted has long since retired. Any advice?
First contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to incur the fees of a Old Colwyn conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I purchased a studio flat in Old Colwyn, conveyancing having been completed 9 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Old Colwyn with over 90 years remaining are worth £221,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease expires on 21st October 2094
With only 70 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 as well as costs.
The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.