I purchased a freehold premises in Sherborne yet invoiced for rent, why is this and what is this?
It is rare for properties in Sherborne and has limited impact for conveyancing in Sherborne 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 many centuries, but the Rent Charge Act 1977 barred the generation of new 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 is to be dispensed with completely.
I am buying a new build apartment in Sherborne. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Sherborne
Please supply a car parking plan. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? 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 evidence that the form of Lease proposed has been approved by the Land Registry.
I need to find a conveyancing solicitor for leasehold conveyancing in Sherborne. I happened to chance upon a site which looks to be the perfect solution If it is possible to get all this stuff completed via web that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Looking forward to complete next month on a garden flat in Sherborne. Conveyancing lawyers have said that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Sherborne should include some of the following:
The total ownership of the premises. This may be the property itself but may include a attic or storage are if applicable. specifics of the parties to the lease, e.g. these could be the tennant, head lessor, freeholder What you can do if a neighbour breaches a clause of their lease? Responsibility for repairing the window frames Specifying your legal entitlements in respect of the communal areas in the building.For instance, does the lease contain a right of way over an accessway or staircase?
Sherborne Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to Purchasing
What is the maintenance charge and ground rent on the apartment? What is the name of the managing agents? Is anyone aware of any major works on the horizon that will likely add a premium to the service costs?
We have selected a Sherborne conveyancing solicitor for our house purchase (first time buyers) and have picked up in the engagement letter that they are not overseen by the Financial Conduct Authority. Need I be worried or is that standard with property lawyer?
We can't see why they should be. Most conveyancer don't lend money. You should check that they are regulated by the Solicitors Regulation Authority, who dictate specific conditions regulating funds sitting on client account.