Due to move into my new home in Freshford next Monday. My solicitor now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the bank. What risks does the bank expect the insurance to cover?
All property lawyers on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook requirements. These obligations are not specific to conveyancing in Freshford.
Having sold my house in Freshford last July yet the purchaser is telephoning daily complaining that their solicitor needs to hear from mylawyer. What are the post completion sale formalities following completion?
Following your disposal your conveyancer should deliver the transfer documentation and all of the paperwork to the purchaser's conveyancer. If applicable, your solicitor should also evidence that the home loan has been paid off to the buyers solicitors. There is unlikely to be post completion procedures peculiar conveyancing in Freshford.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Freshford?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Freshford. 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 Freshford. Conveyancing is a frightening process 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 legal work.
Here is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Freshford
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Forfeiture - bankruptcy or liquidation must not apply under this provision. 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. Please confirm the Lease plans are surveyor prepared. 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?
All being well we will complete the sale of our £475,000 garden flat in Freshford next Monday. The managing agents has quoted £384 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Freshford?
Freshford conveyancing on leasehold apartments nine out of ten times involves fees being raised by freeholders :
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Completing pre-exchange enquiries
Where consent is required before sale in Freshford
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Freshford Leasehold Conveyancing - A selection of Questions you should ask before Purchasing
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The best form of lease structure is where the freehold title is in the ownership of the leaseholders. In this scenario the leaseholders enjoy being in charge if their destiny and although a managing agent is often retained if it is larger than a house conversion, the managing agent acts for the leaseholders themselves. How is the lease structured? Can you tell me if there are any major works anticipated that will increase the service costs?
We have instructed a Freshford conveyancing solicitor for our home move (FTB’s) and have spotted in the engagement letter that they are not covered by the FCA. Should I be concerned or is that the norm with property lawyer?
We can't see why they should be. Most conveyancer don't lend money. They should be governed by the Solicitors Regulation Authority, who have specific stipulations regulating funds held on client account.