My fiance and I intend to remortgage our apartment in Maryland with Leeds Building Society. We have a son 18 who lives with us. Our solicitor requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have two questions (1) Is this document specific to the Leeds Building Society conveyancing panel as he never had to sign this form when we bought 4 years ago (2) In signing this form is our son in any way compromising his right 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 Leeds Building Society. This is solely used to protect Leeds Building Society 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 Leeds Building Society 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.
The Maryland conveyancing firm that just started acting on my purchase in Maryland have suddenly shut down. I chose them because I needed a lawyer on the Virgin Money conveyancing panel and my family Maryland lawyer was not. I wrote them a cheque for two hundred pounds in advance. What should be my next steps?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Virgin Money conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to help.
The deeds to our house are lost. The lawyers who dealt with the conveyancing in Maryland 4 years ago are no longer around. What do I do?
You no longer need to have the physical deeds to prove you are the registered proprietor of land or premises, given that the Land Registry have everything they need in a digital format.
I decided to have a survey completed on a house in Maryland in advance of retaining conveyancers. I have been told that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies tend not grant a loan on such a home.
It varies from the lender to lender. Santander has different instructions for example to Nationwide. Should you wish to call us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Maryland. Conveyancing may be slightly more expensive based on your lender's requirements.
In scouring the web for the phrase on line conveyancing in Maryland it brings up numerous solicitorsin the vicinity. How do I determine which is the right conveyancing solicitor for purchase transaction?
The preferential way of finding a suitable conveyancer is via trusted referral, so enquire of colleagues and family who have purchased a property in Maryland or a respected estate agent or financial adviser. Charges for conveyancing in Maryland differ, so it's sensible to secure at least three estimates from varying types of conveyancers. Make sure that you clarify what costs in the quote includes.
Having had my offer accepted I require leasehold conveyancing in Maryland. Before I set the wheels in motion I require certainty as to the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in Maryland - 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.
I am the leaseholder of a two-bedroom flat in Maryland. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
Absolutely. We are happy to put you in touch with a Maryland conveyancing firm who can help.
An example of a Lease Extension decision for a Maryland residence is 151A Ham Park Road in May 2010. The matter came before the Tribunal by way of a vesting order made on 12 June 2009 Deputy District Judge Coonan in Bow County Court. The tribunal decided that the sum payable for the m to be paid for the lease extension was £21,445 This case affected 1 flat.