I am the registered owner of a freehold house in Truro but still pay rent, why is this and what is this?
It’s unusual for properties in Truro and has limited impact for conveyancing in Truro 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 date back many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
What will a local search reveal regarding the property I am purchasing in Truro?
Truro conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations such as Searchflow The local search is essential in every Truro conveyancing purchase; as long as you wish to avoid any unpleasant once you have moved into your new home. The search should reveal data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
Me and my brother have a semi-detached Georgian house in Truro. Conveyancing lawyer represented me and Skipton Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold under the matching property. Is it worth asking Skipton Building Society to clarify?
You should 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 Truro and other locations in the country and poses no real issues for owners other than when they sell 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 solicitor who conducted the purchase.
In my capacity as executor for the estate of my aunt I am disposing of a residence in Swansea but reside in Truro. My solicitor (approximately 260 miles from merequires that I execute a stat dec prior to the transaction finalising. Could you suggest a conveyancing practitioner in Truro who can attest and place their company stamp on the document?
strictly speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are Truro based
Planning to complete next month on a ground floor flat in Truro. Conveyancing lawyers inform me that they report fully on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Truro should include some of the following:
-
Ground rent - what is due and when you need to pay, and be on notice if this is subject to change It needs to be made clear to you if the lease permits you to alter or improve aspects of the property- you should be made aware as to whether any restrictions relates to all alterations or just structural alteration, and whether licences for alterations is mandated necessary The total ownership of the demise. This may be the property itself but could also include a attic or storage are if relevant. Details of the parties to the lease, e.g. these could be the (you), superior lessor, freeholder
Truro Conveyancing for Leasehold Flats - Sample of Queries before Purchasing
-
The majority of Truro leasehold properties will have a service bill for maintenance of the block levied by the management company. If you buy the flat you will have to meet this contribution, usually in instalments throughout the year. This can be anything from several hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a rentcharge to be met annual, ordinarily this is not a large amount, say approximately £25-£75 but you should to enquire as occasionally it can be many hundreds of pounds. What is the the remaining lease term?
Why do Truro conveyancing charges are more expensive for leasehold and freehold properties?
There is always more work needed for leasehold conveyancing. Truro has many leasehold properties. There is more time involved in the purchase: for example, the lease and leasehold information (including current service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.