In a conveyancing transaction, a conveyancer will generally act for both the lender and the purchaser. This is permitted because the lender and buyer have a common interest, to proceed to completion as quickly as possible whilst ensuring the title to the property represents satisfactory security for the mortgage advance/purchase price.
Reduction in Lawyers Able to Do Conveyancing Effects Consumers
March 19th, 2012 HIP-Consultant.co.uk Posted in Legal, Property Conveyancing Comments Off on Reduction in Lawyers Able to Do Conveyancing Effects Consumers
Beware Contracts Race when Buying Property
March 12th, 2012 HIP-Consultant.co.uk Posted in Legal, Property Conveyancing 3 Comments »
The process of buying a house (or flat), or more specifically buying land, is unlike the process of buying any other item. When it comes to any other item, even a very expensive one, the process is extremely straightforward. Seller and buyer agree a price and once agreement is reached a contract is created, which is legally binding and can be enforced through the courts if necessary.
Share of Freehold Properties, Leasehold or Freehold?
February 15th, 2012 HIP-Consultant.co.uk Posted in Land Registry, Property Conveyancing, Property Market, Top Tips 5 Comments »
Generally when buying a property the sales particulars will tell you whether it is leasehold or freehold. If the property is a flat or maisonette however, you will sometimes see it described as “share of freehold”. This can be confusing to many buyers. Does it mean they will be getting a freehold flat with no lease? Does it mean you will be your own landlord? In fact it is just a term invented by estate agents to try and make a leasehold property seem more attractive.
Dealing With Property When The Owner Dies
November 9th, 2011 HIP-Consultant.co.uk Posted in Land Registry, Property Conveyancing, Property Market 1 Comment »
When the owner of a property dies all of his assets, including any land he owns pass either in accordance with his will or if he has not left a valid will, to his next of kin in accordance with the rules of intestacy.
Exchanging Contracts in Property Conveyancing Process
November 1st, 2011 HIP-Consultant.co.uk Posted in Land Registry, Property Conveyancing, Property Market Comments Off on Exchanging Contracts in Property Conveyancing Process
A contract for the sale of goods does not have to be in writing. It can be verbal or it can even be implied by the actions of the parties. For example when you go into a shop you might not speak to the assistant but by you handing over money and him/her handing over the goods the law assumes that a contract was intended and the terms of that contract are implied by certain statutory rules.
Process of Getting a Conveyancing Quote
October 24th, 2011 HIP-Consultant.co.uk Posted in Land Registry, Legal, Property Conveyancing 2 Comments »
If you are buying or selling a property then, unless you are planning to do your own conveyancing, you’ll need to instruct a conveyancer (i.e. a solicitor or licensed conveyancer) to represent you. So with thousands of law firms out there to choose from, how do you go about getting a conveyancing quote? First you need to decide what you’re looking for. Do you want a local firm, whose offices you can visit, or would you rather do everything by phone, post and email?
Acquiring the Freehold of a Leasehold House
October 13th, 2011 HIP-Consultant.co.uk Posted in Land Registry, Landlords, Legal Comments Off on Acquiring the Freehold of a Leasehold House
Most houses in England and Wales are freehold. This means that the owner has a right to remain on the land and in the house in perpetuity (forever) or until he sells or transfers it, at which point the new owner takes over the right. Although technically the land (and therefore the house) actually belongs to the Crown, for all practical purposes it is owned by the home owner. There are some houses however that rather than being freehold are let on long leases. These are known as leasehold houses.
High Street Solicitor or Specialist Conveyancer?
October 5th, 2011 HIP-Consultant.co.uk Posted in Land Registry, Property Conveyancing 2 Comments »
When you are looking for a lawyer to carry out your conveyancing you basically have two options. You can either choose a traditional high street solicitor’s firm or a specialist conveyancing company. There are advantages and disadvantages to both and which you choose should depend on a number of factors such as cost, your personal circumstances and perhaps how quickly you need the transaction to proceed.
What You Need to Know About Conveyancing Contracts
September 27th, 2011 HIP-Consultant.co.uk Posted in Land Registry, Legal, Property Conveyancing 2 Comments »
The conveyancing contract (sometimes referred to as the agreement) is a document which contains all of the terms and conditions to which a conveyancing transaction is subject. Once contracts are exchanged those terms become legally binding on all parties.
Estate Agents and the Conveyancing Process
August 30th, 2011 HIP-Consultant.co.uk Posted in Estate Agents, Property Conveyancing 5 Comments »
Estate agents have a notoriously bad reputation and unfortunately, it is sometimes with good reason! Nonetheless, like most professions, the majority are decent and honest. Finding a good estate agent can be a real asset when it comes to selling your property, not just in terms of finding a buyer but in helping to ensure that the matter proceeds to completion.
Commonhold Property Ownership Explained
August 11th, 2011 HIP-Consultant.co.uk Posted in Land Registry, Property Conveyancing, Property Market 1 Comment »
Commonhold is a new type of property ownership. It was created by the Commonhold and Leasehold Reform Act 2002 (CLRA 2002) as a possible alternative to leasehold title. The CLRA 2002, together with the Commonhold Regulations 2004, came into force on 27 September 2004.