I purchased a freehold property in South Acton yet pay rent, why is this and what is this?
It is rare for properties in South Acton and has limited impact for conveyancing in South Acton 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 generation of fresh rentcharges from 1977 onwards.
Old 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.
Should commercial conveyancing searches reveal proposed roadworks that may impact a commercial premises in South Acton?
Many commercial conveyancing solicitors in South Acton will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in South Acton. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in South Acton.
For every commercial conveyancing transaction in South Acton it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can result in delays to South Acton commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not ordered for domestic conveyancing in South Acton.
It has been 4 months following my purchase conveyancing in South Acton completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in South Acton differ for new build properties?
Most buyers of new build residence in South Acton contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is built. This is because new home sellers in South Acton usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in South Acton or who has acted in the same development.
Given that I will soon part with hundreds of thousands of pounds on 3 bedroom house in South Acton I wish to talk to a lawyer concerning thehome move prior to instructing the firm. Is this something that you can arrange?
Absolutely - we would be pleased to talk to you we do not take any clients on without you first talking to the lawyer who will be doing your property ownership legalities in South Acton.There is no ‘factory style conveyancing’ - each client is unique individual, not a matter number. The law firms that we put you in touch with believe that the figure you are provided with for your conveyancing in South Acton should be the figure that you are charged.
Estate agents have just been given the go-ahead to market my ground floor apartment in South Acton. Conveyancing solicitors are to be appointed soon, but I have just had a quarterly service charge demand – should I leave it to the buyer to sort out?
It best that you pay the maintenance contribution as normal as all ground rent and maintenance invoices should be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I inherited a first flat in South Acton. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for the purchase of the freehold?
Most certainly. We can put you in touch with a South Acton conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a South Acton premises is 169 Southfield Road in September 2013. the tribunal decided that the premium to be paid in respect of the collective enfranchisement should be £51,203 This case related to 2 flats. The unexpired residue of the current lease was 64.64 years.