I purchased a freehold premises in Dukinfield yet pay rent, why is this and what is this?
It’s unusual for properties in Dukinfield and has limited impact for conveyancing in Dukinfield 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 hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
How does conveyancing in Dukinfield differ for new build properties?
Most buyers of new build residence in Dukinfield come to us having been asked by the developer to sign contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Dukinfield usually purchase 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 property lawyers 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 accustomed to new build conveyancing in Dukinfield or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Dukinfield is the location of the property. Can you shed any light on this issue?
Flying freeholds in Dukinfield are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Dukinfield 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 Dukinfield 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.
My father-in-law has encouraged me to use his conveyancing solicitors in Dukinfield. Should I use them?
Much as we are happy to recommend a Dukinfield conveyancing lawyer it’s preferable to choose a conveyancing practitioner is to seek feedback from friends or relatives who have actually experience in using the solicitor you're are thinking of instructing.
I am in need of some leasehold conveyancing in Dukinfield. Before I get started I require certainty as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and almost all are in Dukinfield - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Dukinfield Leasehold Conveyancing - Sample of Questions you should consider before Purchasing
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The prefered form of lease structure is if the freehold title is owned by the leaseholders. In this scenario the leaseholders enjoy being in charge if their destiny and notwithstanding that a managing agent is usually employed if it is larger than a house conversion, the managing agent is directed by the tenants. This information is helpful as a) areas could result in problems in the block as the common areas may start to deteriorate where services remain unpaid b) if the leasehold owners have a dispute with the running of the building you will wish to have all the details Is the freehold reversion owned collectively by the leaseholders?
My brother-in-law has suggested I instruct a conveyancing solicitor in Dukinfield. I need to find out if they are listed on the lender's approved list of lawyers. Can you help?
You should call your lawyer to check if they are on the lender's approved list. If that does not help get in touch with us and we can make some checks for you. Should the firm not be on the conveyancing panel we we can help find a specialist conveyancing solicitor in Dukinfield on the panel for your mortgage company.