I own a freehold residence in Deganwy yet pay rent, why is this and what is this?
It’s unusual for properties in Deganwy and has limited impact for conveyancing in Deganwy 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 many centuries, but the Rent Charge Act 1977 barred the generation of fresh 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 in 2037 will be extinguished.
Me and my brother own a terraced Edwardian property in Deganwy. Conveyancing solicitor acted for me and Bank of Scotland. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold with the matching property. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Deganwy and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with the conveyancing solicitor who carried out the work.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Deganwy. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Deganwy
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Please supply a car parking plan. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
I have been on the look out for a ground for flat up to £245,000 and identified one close by in Deganwy I like with amenity areas and station nearby, however it's only got 61 years on the lease. There is not much else in Deganwy suitable, so just wondered if I would be making a mistake buying a short lease?
Should you require a home loan that many years will likely be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
In what way can the Landlord & Tenant Act 1954 affect my commercial premises in Deganwy and how can you help?
The particular law that you refer to provides a safeguard to commercial tenants, granting the dueness to apply to court for a new tenancy and remain in occupation at the end of the lease term. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Deganwy is one of the many areas of the UK in which the firms we work with are based
We are contemplating choosing a web based lawyer ahead of a Deganwy conveyancing practice. Should I ‘stay local’?
Various benefits exist in being able to attend a local Deganwy conveyancing solicitor for example
- signing documents on short notice
- getting one on one explanations of things you don't understand
- the ability to raise concerns if matters need to addressed
When checking quotes, look carefully for hidden extras. The majority decent Deganwy high street solicitors give an all-inclusive figure. Many online companies appear to offer discounted prices, yet have burried 'extras' in the in the terms and conditions.