I own a freehold property in Dronfield but nevertheless pay rent, why is this and what is this?
It is rare for properties in Dronfield and has limited impact for conveyancing in Dronfield 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 from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
I understand that there are debates on Chancel Insurance on online forums. Do I need chancel insurance when purchasing a residence in Dronfield? or I am told that there is a law dating back centuries that means some owners of property residing in a parish church boundary may be liable to contribute towards maintenance towards the chancel within the church. Is this suitable for conveyancing in Dronfield?
Unless a previous acquisition of the property took place post 12 October 2013 you can assume that lawyers delivering conveyancing in Dronfield to continue to recommend a chancel search and or chancel repair liability insurance.
five months have elapsed since my purchase conveyancing in Dronfield took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Just had an offer accepted on a new build flat in Dronfield. Conveyancing is necessary evil 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 is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Dronfield
-
The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please confirm the Lease plans are architect prepared. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? There must be mutual enforceability of lessee’s covenants.
In what way can the Landlord & Tenant Act 1954 impact my business premises in Dronfield and how can you help?
The particular law that you refer to gives protection to commercial leaseholders, giving them the legal entitlement to apply to court for a continuation of occupancy when the lease reaches an end. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Dronfield is one of our numerous areas of the UK in which our lawyers have offices
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have just found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Dronfield. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
The majority of houses in Dronfield are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Dronfield so you should seriously consider looking for a Dronfield conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’sconsent to carry out alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer should appraise you on the various issues.
I am the registered owner of a basement flat in Dronfield, conveyancing having been completed in 2010. Can you work out an approximate cost of a lease extension? Corresponding flats in Dronfield with an extended lease are worth £171,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease runs out on 21st October 2104
With 79 years left to run the likely cost is going to be between £8,600 and £9,800 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.