My husband and I are refinancing our penthouse in Radford with . We have a son 19 who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the flat is repossessed. I have a couple of concerns (1) Is this form unique to the conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to . This is solely used to protect if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a simple, chain free conveyancing. Radford is where the house is located. Can you offer any advice?
Flying freeholds in Radford are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Radford you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Radford may determine 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 residence.
In what way can the Landlord & Tenant Act 1954 affect my business property in Radford and how can you help?
The 1954 Act gives a safeguard to commercial tenants, giving them the dueness to apply to court for a renewal lease and continue in occupation when the lease reaches an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Radford is one of the numerous locations in which our lawyers are based
I am the registered owner of a garden flat in Radford, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Corresponding properties in Radford with a long lease are worth £165,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ceases on 21st October 50
With just 50 years left to run we estimate the price of your lease extension to be between £36,100 and £41,800 as well as costs.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.
Can a conveyancer remove a name from the title of my home in Radford ?
Subtracting or adding someone to the title of your home is relatively straightforward. You’ll need to appoint a to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a