We are purchasing our first house. The lawyer has messagedto check if we want to take out extra conveyancing searches. We are really unsure what's relevant for conveyancing in Gidea Park
The number and type of Gidea Park conveyancing searches depends primarily on the property, the location, the possibility of any of these risks, your familiarity of the locality and risks, your overall attitude to risk. What is important is that you properly appreciate what information the searches could give you. You may then decide if you consider that you need that search. Where you are in doubt, ask your solicitor to explain.
I am the registered owner of a freehold house in Gidea Park but still invoiced for rent, why is this and what is this?
It is rare for properties in Gidea Park and has limited impact for conveyancing in Gidea Park 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 one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
Please explain the implications if my lawyer’s firm is expelled from the Co-operative Conveyancing panel ahead of completing my conveyancing in Gidea Park?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Just had an offer accepted on a new build flat in Gidea Park. 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 conveyancing.
Here is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Gidea Park
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Forfeiture - bankruptcy or liquidation must not apply under this provision. There must be mutual enforceability of lessee’s covenants. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a quick, no chain conveyancing. Gidea Park is where the house is located. Can you shed any light on this issue?
Flying freeholds in Gidea Park are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Gidea Park you would need to get your solicitor to go 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 Gidea Park 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 premises.
How do I locate a Gidea Park solicitor on the Chelsea Building Society conveyancing panel? I have wheels and am willing to travel upto 20miles to meet the solicitor.
You can use the search on this website. Please select a lender and your location and you will see a number of Gidea Park conveyancing lawyers based on proximity. We have listed some Gidea Park conveyancing firms towards the end of this page and you can telephone them to verify if they are on the Chelsea Building Society panel