I own a freehold premises in Smithfield but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Smithfield and has limited impact for conveyancing in Smithfield 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 establishment of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
What will a local search tell me concerning the house I am buying in Smithfield?
Smithfield conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search company such as Searchflow The local search plays an important part in many a Smithfield conveyancing purchase; as long as you wish to avoid any unpleasant once you have moved into your property. The search will reveal information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
Despite weeks of looking the Title Certificate and documents to our property are lost. The lawyers who handled the conveyancing in Smithfield 5 years ago are no longer around. Will I be able to sell the house?
Nowadays there are copies made of almost everything, and your conveyancer will be aware precisely where to find all the appropriate documentation so you can purchase or sell your property without any difficulty. If duplicates are not available, your conveyancer may be able to arrange cover in the form of insurance or indemnities protecting you against future claims on the premises.
How does the Landlord & Tenant Act 1954 impact my business property in Smithfield and how can you help?
The 1954 Act gives protection to business tenants, granting the dueness to make a request to court for a continuation of occupancy when the lease comes to an end. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and help with commercial conveyancing in Smithfield
Am I best advised to use a Smithfield conveyancing lawyer in close proximity to the house I am hoping to buy? We have a good friend who can conduct the conveyancing but his firm is located 300kilometers drive away.
The benefit of a local Smithfield conveyancing practice is that you can attend the office to execute paperwork, present your identification documents and apply pressure on them if necessary. Having local Smithfield know how is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who used your friend and they were happy that should surpass using an unfamiliar Smithfield conveyancing lawyer solely due to them being Smithfield based.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it more attractive. I have just found out that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Smithfield. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Smithfield ?
Most houses in Smithfield are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Smithfield in which case you should be looking for a Smithfield conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your solicitor will report to you on the legal implications.
Smithfield Leasehold Conveyancing - A selection of Queries Prior to buying
How is the lease structured? What is the name of the managing agents? How many years remain on the lease?