I own a freehold premises in Markfield but still invoiced for rent, why is this and what is this?
It is rare for properties in Markfield and has limited impact for conveyancing in Markfield 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 hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Previous rentcharges can now be extinguished 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 have todaydiscovered that Wolstenholmes have closed. They carried out my conveyancing in Markfield for a purchase of a freehold house 12 months ago. How can I establish that my home is not still registered in the name of the previous owner?
The quickest method to check if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Markfield conveyancing specialists.
Over the last few months I have been searching for a leasehold apartment up to £305k and found one round the corner in Markfield I like with open areas and railway links in the vicinity, the downside is that it's only got 61 remaining years left on the lease. I can't really find anything else in Markfield in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a mortgage that many years will likely be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you could request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
How does the Landlord & Tenant Act 1954 affect my commercial offices in Markfield and how can your lawyers assist?
The 1954 Act provides protection to business lessees, granting the legal entitlement to make a request to court for a new tenancy and continue in occupation when the lease comes to an end. There are limited grounds that a landlord can refuse a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Markfield is one of our many areas of the UK in which the firms we work with are based
I am using a search engine for the phrase cheap conveyancing in Markfield it shows results of many property lawyerslocally. How do I determine which is the right conveyancer for the sale of my house?
The ideal way of choosing a suitable conveyancer is through a trusted recommendation, so enquire of colleagues and relatives who have bought a property in Markfield or a local estate agent or mortgage broker. Charges for conveyancing in Markfield differ, so it's advisable to secure a minimum of four fee estimates from varying types of property lawyers. Make sure that you clarify that the fees are fixed.
Having had my offer accepted I require leasehold conveyancing in Markfield. Before diving in I require certainty as to the remaining lease term.
If the lease is registered - and almost all are in Markfield - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Markfield Leasehold Conveyancing - Sample of Questions you should ask Prior to buying
Are any of leasehold owners in dispute over their service charge liability? You should be aware if it is less than eighty years it will affect the salability of the property. It is worth checking with your lender that they are willing to lend given the lease term. Leases with less than 80 years remaining means that you will probably have to extend the lease at some point and it is worth discovering what this would cost. For most Markfieldlease extensions you would be be obliged to have owned the residence for 24 months before you are legally able to carry out a lease extension.