I am the registered owner of a freehold house in North London but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in North London and has limited impact for conveyancing in North London 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 establishment of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed 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 disclose planned roadworks that could impact a commercial premises in North London?
Many commercial conveyancing solicitors in North London will execute a SiteSolutions Highways report as it reduces the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in North London. The search result sets out 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 North London.
For each commercial conveyancing transaction in North London it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can cause delays to North London commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not conducted for residential conveyancing in North London.
Despite weeks of looking the Title Certificate and documents to our home are lost. The conveyancers who dealt with the conveyancing in North London 4 years ago have long since closed. Will I be able to sell the house?
Nowadays there are copies made of almost everything, and your conveyancer should know exactly where to find all the relevant paperwork so you may purchase or sell your house without a hitch. If duplicates can’t be located, your conveyancer can put in place insurance or indemnities protecting you against future claims on your property.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. North London is where the house is located. Is there any advice you can give?
Flying freeholds in North London are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in North London you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in North London may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am purchasing a flat with all finances in place. I have provided conveyancer with two distinct evidence of photographic identification, bank statement, multiple utility bills. Now he requires a copy from a probate lawyer stating that the funds are legitimate and that it has come from inheritance and not selling fake DVD.
In today’s world you will not be able to complete any North London conveyancing transaction without first providing evidence of your identity to your lawyers. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as evidence of ID it must be both the paper part and photo card part, one is not acceptable without the other. Establishing of your source of funds is required under Money Laundering laws.