My fiance and I intend to remortgage our maisonette in Chantry with Bank of Ireland. We have a son approaching twenty 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 flat is repossessed. I have a couple of questions (1) Is this document specific to the Bank of Ireland conveyancing panel as he never had to sign this form when we remortgaged 3 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
First, rest assured that your Bank of Ireland 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 Bank of Ireland. This is solely used to protect Bank of Ireland 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 Bank of Ireland 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.
It is 10 years ago since I acquired my house in Chantry. Conveyancing solicitors have recently been appointed on the sale but I am unable to track down my title deeds. Is this a problem?
You need not be too concerned. Firstly there is a chance that the deeds will be kept by your mortgage company or they may be in the possession of the conveyancers who handled the purchase. Secondly the likelihood is that the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors procuring up to date copy of the land registers. The vast majority of conveyancing in Chantry involves registered property but in the rare situation where your property is unregistered it is more tricky but is resolvable.
I am buying a house and the lawyer has referenced Chancel Repair for which the property may be liable given it’s proximity to the area of such a church. She has suggested insurance. Is this strictly appropriate for conveyancing in Chantry
Unless a previous purchase of the premises completed post 12 October 2013 you could assume that conveyancing practitioners conducting conveyancing in Chantry to continue to suggest a chancel search and or insurance against a claim.
How does conveyancing in Chantry differ for new build properties?
Most buyers of new build property in Chantry approach us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because new home sellers in Chantry typically buy the real estate, 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 Chantry or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Chantry is the location of the property. Is there any guidance you can give?
Flying freeholds in Chantry are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Chantry you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chantry may ascertain 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.
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