Due to move into my new home in Fareham next Monday. My lawyer now wants me to supply her with evidence of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the lender. What does the insurance need to cover?
All property lawyers on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 conditions. These obligations are not specific to conveyancing in Fareham.
What does my ID and proof of funds have anything to do with my conveyancing in Fareham? Is this really necessary?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the identification documents of the person or body they are dealing with before they can accept their conveyancing business. The Terms of Engagement that you need to sign will no doubt reaffirm this. Your lender will also require certain documents to be checked. Should you refuse to provide identification documents, your lawyer would not be able to act for you.
Having invested time looking at consumer advice sites for an online solicitor in Fareham, most say that I must use a CQS accredited solicitor. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * compliance with best practice conveyancing processes via the scheme protocol It includes many partnerships who conduct conveyancing in Fareham.
I have a terraced Edwardian house in Fareham. Conveyancing solicitor represented me and Leeds Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, another for leasehold with the matching address. I thought I was buying a freehold how can I check?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Fareham and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with your conveyancing lawyer who conducted the work.
I own a leasehold house in Fareham. Conveyancing and Barnsley Building Society mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Fareham who acted for me is not around. Any advice?
The first thing you should do is contact HMLR to make sure that this person is indeed the new freeholder. You do not need to instruct a Fareham conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Fareham Leasehold Conveyancing - Sample of Queries before buying
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It would be prudent to find out as much as possible concerning the company managing the building as they will affect your use and enjoyment of the property. Being a leasehold owner you will be in the clutches of the managing agents both financially and when it comes to day to day issues like the upkeep of the communal areas. Enquire of other people whether they are happy with them. Finally, be sure you know the dates that the maintenance charges are due to the managing agents and precisely what it includes. The prefered form of lease arrangement is a share of the freehold. In this arrangement the lessees benefit from being in charge if their destiny and notwithstanding that a managing agent is usually retained if it is larger than a house conversion, the managing agent acts for the leaseholders themselves. How much is the service charge and ground rent on the property?
My sister completed her conveyancing in Fareham in 2007. She has been married, widowed and in recent months got married again. She wishes to sell the property in a few weeks. I think she will just be need to provide a copy of the marriage certificates to the solicitor but she is worried it could frustrate the sale of the property. Should she appoint a lawyer to update the Land Registry details for the house?
It is not absolutely necessary to bring up to date the title for the property as long as you have the evidence required to show how the name change occurred.
Any buyer’s property lawyer will check the land registry details and need evidence to establish the name change e.g. marriage certificates.