It is 10 years ago since I acquired my property in Thetford. Conveyancing lawyers have just been retained on the sale but I am unable to track down the deeds. Will this jeopardise the sale?
Don’t worry too much. First there is a possibility that the deeds will be kept by the lender or they may still be with the conveyancers who oversaw the purchase. Secondly the likelihood is that the land will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors obtaining current official copies of the land registers. The vast majority of conveyancing in Thetford involves registered property but in the unlikely event that your property is unregistered it adds to the complexity but is not insurmountable.
My aunt passed away 10 months ago and as sole heir and executor I was left the property in Thetford. The house had a relatively small loan remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Barclays, pay off the mortgage. Is this possible?
Given you intend to refinance then Barclays will insist on your using a conveyancer on the Barclays conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Barclays conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Barclays mortgage is registered as a charge at the Land Registry.
Will commercial conveyancing searches disclose proposed roadworks that could impact a commercial property in Thetford?
Its becoming the norm that commercial conveyancing solicitors in Thetford will conduct a SiteSolutions Highways report as it reduces the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Thetford. The report 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 Thetford.
For each commercial conveyancing transaction in Thetford it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately can cause delays to Thetford commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not carried out for domestic conveyancing in Thetford.
I own a terraced Georgian house in Thetford. Conveyancing practitioner represented me and Nationwide Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold under the matching address. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Thetford and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with your conveyancing lawyer who carried out the work.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a quick, no chain conveyancing. Thetford is the location of the property. What do you suggest?
Flying freeholds in Thetford are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Thetford you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Thetford may decide 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 residence.
Do you have any top tips for leasehold conveyancing in Thetford with the aim of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Thetford can be reduced where you appoint lawyers the minute you market your property and request that they start to collate the leasehold information needed by the buyers’ solicitors. If you are supposed to have a share in the Management Company, you should make sure that you hold the original share certificate. Arranging a re-issued share certificate can be a time consuming formality and delays many a Thetford conveyancing transaction. If a duplicate share is required, do contact the company director and secretary or managing agents (if relevant) for this sooner rather than later. If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as over rather than ongoing. Many freeholders or managing agents in Thetford levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Thetford.
Leasehold Conveyancing in Thetford - Sample of Questions you should ask before buying
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Who are the managing agents? How is the lease structured? It is important to be aware whether fixing the lift or some other major work is due in the near future that will be shared amongst the tenants and may well materially increase the the maintenance charges or necessitate a specific invoice.