I am not well enough to travel far from Maryland. Is there a reason why all Maryland property lawyers are not on all bank panels?
Mortgage companies highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year.The dismissal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for mortgage companies to review their conveyancing panels, which kicked off a major policy change in the sector. This led to banks and building societies removing a number of firms off their books of approved lawyers .
Will our lawyer be raising questions regarding flooding during the conveyancing in Maryland.
The risk of flooding is if increasing concern for lawyers specialising in conveyancing in Maryland. There are those who buy a property in Maryland, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to give advice on flood risk, however there are a number of searches that may be initiated by the buyer or on a buyer’s behalf which can give them a better understanding of the risks in Maryland. The conventional set of information supplied to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the seller to determine if the premises has historically flooded. In the event that flooding has previously occurred which is not disclosed by the vendor, then a purchaser could commence a compensation claim stemming from an misleading response. The purchaser’s lawyers may also order an environmental search. This will indicate whether there is any known flood risk. If so, more detailed inquiries should be conducted.
4 months have gone by following my purchase conveyancing in Maryland completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does the Landlord & Tenant Act 1954 affect my commercial premises in Maryland and how can your lawyers assist?
The 1954 Act affords protection to commercial tenants, granting the legal entitlement to make a request to court for a new lease and remain in occupation at the end of the lease term. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and handle your commercial conveyancing in Maryland
Am I best advised to use a Maryland conveyancing solicitor based in the area that I am purchasing? I have an old university friend who can carry out the conveyancing but they are based 200miles away.
The benefit of a local Maryland conveyancing firm is that you can drop in to execute paperwork, deliver your identification documents and apply pressure on them where appropriate. Having local Maryland know how is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If other friends have instructed your friend and the majority were impressed that must surpass using an unknown Maryland conveyancing solicitor solely due to them being local.
My husband and I are first time buyers just having agreed a price on a property in Maryland, and need to get solicitors appointed. We have made use of the various rating based websites and the quotes are from all over the country. Is it important to have a Maryland conveyancing practitioner local to our potential property? We are happy to do all the communicating over the internet, but I assume at some stage we will need to physically go into the solicitor's office to sign papers?
The conveyancing practitioner does not have to be in Maryland, but opting for local means that you can attend their offices if required, for instance, if a signature is needed urgently. In addition, a Maryland solicitor have established relationships with local agents and (if the vendor has chosen a local lawyer) with them, which will help keep things moving faster.