When considering building a structure on or near the boundary between yours and a neighbour’s property it is important to consider the provisions of the Party Wall Act 1996 to ascertain what your obligations and rights are.
Party Wall Act 1996 – What you need to know
May 3rd, 2011 HIP-Consultant.co.uk Posted in Legal, Top tips No Comments »
Estate Agents and Sellers Making False or Misleading Statements
April 18th, 2011 HIP-Consultant.co.uk Posted in Estate Agents, Legal, Property Conveyancing No Comments »
When buying a property it is important to ensure that you inspect everything that you can and that you have surveyed everything that you can’t, such as the structure or the electrics and central heating system. This is because of the principal of caveat emptor – Latin for buyer beware.
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Alternative Business Structures – Business Entity
March 14th, 2011 HIP-Consultant.co.uk Posted in Estate Agents, Legal, Mortgages 1 Comment »
Currently, a solicitor who is performing “reserved legal activities” (activities which only a solicitor is permitted to perform such as the key elements of a conveyancing transaction) for the general public is only permitted to practise in a firm wholly owned by solicitors. The Legal Services Act 2007 (“the Act”) however introduces a new type of business entity, the Alternative Business Structure (ABS).
What is Legal Indemnity Insurance?
March 7th, 2011 HIP-Consultant.co.uk Posted in Legal 5 Comments »
Legal indemnity insurance is used more and more in conveyancing as a way of getting a transaction to the point of completion more quickly than would be possible if whatever defect is being insured against were actually resolved.
Relying on the Mortgage Lender’s Valuation Report?
February 8th, 2011 HIP-Consultant.co.uk Posted in Legal, Mortgages 3 Comments »
Before agreeing to lend money on a property a mortgage lender will instruct a valuer to carry out a basic report, called a valuation report. The report does not go into any great detail but will give a market value figure which the lender will rely upon when deciding how much it ought to lend.
Validating Potential Tenants for Your Rental Properties
January 4th, 2011 HIP-Consultant.co.uk Posted in Landlords, Legal No Comments »
As a residential landlord, you need to be able to trust your tenants to pay their rent and to pay on time. It is likely you will be relying on their payments to enable you to pay your mortgage and so if your tenant falls into arrears you may go into arrears also and could end with the property being repossessed.
How to Complete the Seller’s Property Information Form
November 30th, 2010 HIP-Consultant.co.uk Posted in Legal, Property Conveyancing 1 Comment »
The seller’s property information form needs to be completed by the seller in every sale. It is an important document and it is important to answer the questions honestly and as accurately as possible.
Using Chattels to Avoid Stamp Duty
November 22nd, 2010 HIP-Consultant.co.uk Posted in Legal, Property Conveyancing 6 Comments »
Chattels are items, such as items of furniture, which do not form part of the fabric of the land or buildings but which are transferred from the seller to the buyer along with the land as part of a conveyancing transaction. They can either be including in the price paid for the property or sold for an additional price but using the same contract as is used for the land.
Securing a Debt Against Another’s Property
November 10th, 2010 HIP-Consultant.co.uk Posted in Legal, Mortgages, Property Conveyancing 5 Comments »
In terms of a person’s assets, land is unique in that a debt can be secured against it without the owner giving up control of the asset. Items can of course be bought on hire purchase agreements but these remain the property of the seller until the debt is paid, and an item can be pawned but the pawnbroker will retain it pending full repayment.
How to Claim Ownership To Land
October 18th, 2010 HIP-Consultant.co.uk Posted in Land Registry, Legal, Property Conveyancing 11 Comments »
When the land registry registers a particular piece of freehold land for the first time it will give it one of three “classes” of title. These are absolute, qualified and possessory. Absolute is the best class to have as it is indefeasible, i.e. once it is granted the proprietor is recognised as the absolute owner and no one can challenge his ownership, even if it appears that a person may have a genuine claim to the land.
A Fresh Start for Resolving Legal Complaints
October 6th, 2010 HIP-Consultant.co.uk Posted in Legal 2 Comments »
Today, Wednesday 6 October, the Legal Ombudsman will open for business to help people resolve complaints about lawyers.
This is the first time people can come to an independent and impartial body to help them resolve a legal complaint. The service covers all lawyers, including solicitors, barristers and others (see full list below).
