I own a freehold property in Gomersal yet pay rent, why is this and what is this?
It is rare for properties in Gomersal and has limited impact for conveyancing in Gomersal 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 hundreds of years, but the Rent Charge Act 1977 barred the creation 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 dispensed with completely.
Will commercial conveyancing searches reveal impending roadworks that may affect a commercial estate in Gomersal?
Many commercial conveyancing solicitors in Gomersal will perform a SiteSolutions Highways report as it reduces the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Gomersal. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Gomersal.
For each commercial conveyancing transaction in Gomersal it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could result in delays to Gomersal commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not carried out for domestic conveyancing in Gomersal.
How does conveyancing in Gomersal differ for newly converted properties?
Most buyers of new build or newly converted property in Gomersal approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is built. This is because developers in Gomersal usually acquire the site, 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 used to new build conveyancing in Gomersal or who has acted in the same development.
I am looking for a ground for flat up to £245,000 and found one close by in Gomersal I like with open areas and station in the vicinity, however it's only got 61 years unexpired on the lease. There is not much else in Gomersal suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a home loan the remaining unexpired lease term may be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
As co-executor for the estate of my aunt I am disposing of a property in Monmouth but live in Gomersal. My solicitor (approximately 250 kilometers from merequires that I execute a statutory declaration prior to completion. Can you recommend a conveyancing solicitor in Gomersal to witness and place their company stamp on the document?
Technically speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will suffice regardless of whether they are Gomersal based
My wife and I purchased a leasehold house in Gomersal. Conveyancing and Barclays Direct mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Gomersal who previously acted has long since retired. Any advice?
First contact the Land Registry to be sure that this person is indeed the new freeholder. It is not necessary to instruct a Gomersal conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Leasehold Conveyancing in Gomersal - A selection of Questions you should ask before buying
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How many of the leaseholders are in arrears for their maintenance charge payments? For many Gomersal leaseholds the cost for major works tend not to be incorporated into the maintenance charges, albeit that there some managing agents in Gomersal require leaseholders to pay into a reserve fund and this is used to offset against larger repairs or maintenance. You should be aware that where the lease has less than eighty years it will affect the marketability of the apartment. Check with your mortgage company that they are content with the length of the lease. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease at some point and you need to have some idea of how much this would cost. Remember, in most cases you will be be obliged to have owned the residence for 24 months in order to be entitled to extend the lease.