Due to complete my purchase in Totterdown next Thursday. My solicitor now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the lender. What risks does the mortgage company 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 Part 2 instructions. These obligations are not limited to conveyancing in Totterdown.
I own a freehold premises in Totterdown yet invoiced for rent, why is this and what is this?
It is rare for properties in Totterdown and has limited impact for conveyancing in Totterdown 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 many centuries, but the Rent Charge Act 1977 barred the establishment of new 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 after 2037 is to be extinguished.
I need some quick conveyancing in Totterdown as I am under an ultimatum to exchange contracts within 4 weeks. A home loan is not required. Is it possible to escape the need for conveyancing searches to save fees and time?
If.Given you are are a cash purchaser you are at free not to do searches although no conveyancer would recommend that you don't. Drawing on years of experience of conveyancing in Totterdown the following are instances of what can arise and adversely affect the marketability of the property: Enforcement Actions, Overdue Charges, Overdue Grants, Railway Schemes,...
The deeds to my home can not be found. The lawyers who did the conveyancing in Totterdown 4 years ago have long since closed. Will I be able to sell the house?
As long as you have a registered title the information relating to your proprietorship will be evidenced by the Land Registry with a Title Number. It is easy to perform a search at the Land Registry, locate your house and get up to date copies of the Registered Entries for less than a fiver. Where the property is Leasehold then the Land Registry will usually retain a certified copy of the Registered Lease and again, a copy can be obtained for twenty pounds.
What does commercial conveyancing in Totterdown cover?
Totterdown conveyancing for business premises covers a wide array of advice, offered by regulated solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
Is it best to go with a Totterdown conveyancing lawyer based in the vicinity that I am buying? I have an old university friend who can conduct the legal work but they are based over three hundred miles drive away.
The primary upside of using a local Totterdown conveyancing practice is that you can attend the office to sign documents, deliver your identification documents and pester them if necessary. Having local Totterdown 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 used your friend and the majority were impressed that should trump using an unknown Totterdown conveyancing lawyer solely due to them being local.