My partner and I are refinancing our maisonette in Blaina with Yorkshire BS. We have a son 18 who lives at home. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is repossessed. I have two concerns (1) Is this document specific to the Yorkshire BS conveyancing panel as he did not need to sign this form when we remortgaged 5 years ago (2) Does our son by signing this giving up his entitlement 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 Yorkshire BS. This is solely used to protect Yorkshire BS 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 Yorkshire BS 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 am the registered owner of a freehold residence in Blaina but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Blaina and has limited impact for conveyancing in Blaina 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 fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
Will commercial conveyancing searches reveal proposed roadworks that could impact a commercial estate in Blaina?
Its becoming the norm that commercial conveyancing solicitors in Blaina will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Blaina. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Blaina.
For each commercial conveyancing transaction in Blaina it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can cause delays to Blaina commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in Blaina.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Blaina. Conveyancing is a frightening process 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 legal work.
Here are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Blaina
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. There must be mutual enforceability of lessee’s covenants. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
Should I be suspicious that estate agents that I am dealing with are recommending a nationwide conveyancing firm rather than a local Blaina conveyancing company?
As with lots of professional services, often suggestions from family and friends can be extremely useful or valuable. Nevertheless there are many people with a vested interest in a conveyancing matter; estate agents, mortgage brokers and banks might all suggest solicitors to instruct. On occasion these conveyancers might be known to one of the organisations as experts in their field, but sometimes there might be a financial incentive behind the recommendation. You are at liberty to choose your preferred conveyancer. However, bear in mind that most mortgage providers specify a panel list of lawyers you are obliged to use for the lender related work in your transaction.
At long last our conveyancing in Blaina is completing this Friday, however the vendors I am buying from wishes to move out on the Saturday at 2pm. Should I agree to such a idea?
It is not possible to complete on a Saturday due to the bank systems aren't operating.