My partner and I are refinancing our maisonette in Corfe Mullen with Skipton. We have a son 18 who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have two concerns (1) Is this document specific to the Skipton conveyancing panel as he never had to sign this form when we remortgaged 5 years ago (2) Does our son by signing this compromise his entitlement to inherit the property?
On the face of it your lawyer has done nothing wrong 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 Skipton. This is solely used to protect Skipton 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 Skipton 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.
We are downsizing from our property in Corfe Mullen and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. A local conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers instructed an online conveyancing practice rather than a conveyancing solicitor in Corfe Mullen. Having lived in Corfe Mullen for 5 years we know of no issue. Is it a good idea to get in touch with our local Authority to get clarification that the buyers are looking for.
It sounds as though you may have a conveyancing firm currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
I am buying a new build flat in Corfe Mullen. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Corfe Mullen
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
In what way can the Landlord & Tenant Act 1954 impact my commercial offices in Corfe Mullen and how can your lawyers assist?
The particular law that you refer to gives a safeguard to commercial tenants, granting the dueness to make a request to court for a continuation of occupancy at the end of an expired lease. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Corfe Mullen is one of the many locations in which our lawyers are based
I am tempted by the attractive purchase price for a couple of maisonettes in Corfe Mullen both have approximately fifty years remaining on the leases. Will this present a problem?
There is no doubt about it. A leasehold apartment in Corfe Mullen is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the value of the property. For most purchasers and banks, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Corfe Mullen conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Leasehold Conveyancing in Corfe Mullen - Examples of Questions you should ask before buying
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Is there a share of the freehold? Does the lease include onerous restrictions? Generally speaking the outlay for major works tend not to be included within service charges, albeit that there some managing agents in Corfe Mullen obliged leasehold owners to contribute towards a reserve fund and this is used to offset against larger works.
Me and mywife and I are in the market for an affordable conveyancing lawyer in Corfe Mullen to buy a apartment. I want to avoid being ripped off but with lots of Corfe Mullen conveyancing solicitors to pick from...how do I know which one is best to select?
To fee estimates for your move from the conveyancing firms that undertakes services in Corfe Mullen please make the most of our quote tool.