I purchased a freehold property in Farringdon but still pay rent, why is this and what is this?
It is rare for properties in Farringdon and has limited impact for conveyancing in Farringdon 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 establishment of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
The Farringdon conveyancing firm that I recently instructed on my purchase in Farringdon have suddenly shut down. I only went with them because I had to have a solicitor on the Aldermore conveyancing panel and my family Farringdon lawyer was not. I cut them a cheque for two hundred pounds in advance. What are my options?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Aldermore conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.
I am close to exchanging contracts on the sale of our home in Farringdon and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. A high street Farringdon conveyancer would know this is not the case. For the life of me I don't know why the buyers used a web based conveyancing practice as opposed to a conveyancing solicitor in Farringdon. Having lived in Farringdon for 4 years we know of no issue. Is it a good idea to contact our local Authority to seek confirmation need.
It would appear that you have a conveyancing solicitor currently acting for you. What do they say? You should 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 sickness)
Are there restrictive covenants that are commonly picked up as part of conveyancing in Farringdon?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Farringdon. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
About to purchase a new build apartment in Farringdon. Conveyancing is necessary evil 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 few leasehold new build questions that you should expect your new-build leasehold conveyancing in Farringdon
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Forfeiture - bankruptcy or liquidation must not apply under this provision. There must be mutual enforceability of lessee’s covenants. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
Am I best advised to go with a Farringdon conveyancing solicitor in close proximity to the house I am purchasing? We have a good friend who can perform the legal formalities but they are based 400kilometers away.
The benefit of a high street Farringdon conveyancing practice is that you can drop in to sign paperwork, hand in your ID and pester them where appropriate. They will also have local knowledge which is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and in the main were happy that should outweigh using an unknown Farringdon conveyancing solicitor just because they are based in the area.