My wife and I changing mortgage lender for our maisonette in Penllergaer with Co-operative. We have a son 19 who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have two concerns (1) Is this form unique to the Co-operative conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Co-operative conveyancing panel solicitor is doing the right thing 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 Co-operative. This is solely used to protect Co-operative 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 Co-operative 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.
I own a freehold residence in Penllergaer but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Penllergaer and has limited impact for conveyancing in Penllergaer 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 creation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
I understand that there are debates on Chancel Insurance on online forums. Do I need this when purchasing a house in Penllergaer? or I am told that there is a law dating back centuries that means some owners of property residing in a parish church boundary will be compelled to pay for repairs to the chancel within the church. Is this relevant for conveyancing in Penllergaer?
Unless a previous acquisition of the property completed after 12 October 2013 you could assume that conveyancing practitioners handling conveyancing in Penllergaer to continue to advocate a chancel search and or chancel repair liability insurance.
I have justbecome aware that Arc property Solicitors have been shut down. They conducted my conveyancing in Penllergaer for a purchase of a freehold house 10 months ago. How can I be sure that my home is not still registered in the name of the previous owner?
The quickest method to see if the premises is registered to you, you can carry out 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 Penllergaer conveyancing specialists.
As co-executor for the will of my grandmother I am disposing of a residence in Cardiff but live in Penllergaer. My conveyancer (based 250 miles awayhas requested that I execute a stat dec prior to the transaction finalising. Can you recommend a conveyancing practitioner in Penllergaer to attest and place their company stamp on the document?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or solicitor will do regardless of whether they are located in Penllergaer
Planning to complete next month on a garden flat in Penllergaer. Conveyancing lawyers assured me that they report fully on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Penllergaer should include some of the following:
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Additions to the premises Defining your legal entitlements in respect of common areas in the block.For instance, does the lease include a right of way over an accessway or staircase? An explanation concerning the obligations in the lease to to contribute towards maintenance costs - with regard to both the building, and the more general rights a tenant has The physical ownership of the property. This may be the apartment itself but might include a roof space or basement if relevant. Whether your lease provides for a reserve fund for major repairs?
I am the registered owner of a studio flat in Penllergaer, conveyancing was carried out September 1997. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Penllergaer with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 yearly. The lease ends on 21st October 2077
With 53 years left to run the likely cost is going to range between £27,600 and £31,800 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.