If you are moving home, you will probably want to complete your purchase or sale on a Friday. It is a perfectly reasonable desire, as it allows you the weekend to move in, so you have to take less time off work. This will generally fit in with what everyone else in the chain wants and probably 80% – 90% of conveyancing sale and purchase completions do take place on a Friday.
Do you really have to move home on a Friday?
August 31st, 2012 HIP-Consultant.co.uk Posted in Property Conveyancing, Property Market Comments Off on Do you really have to move home on a Friday?
What Happens to Your Property When You Die
August 21st, 2012 HIP-Consultant.co.uk Posted in Legal, Property Conveyancing 2 Comments »
Despite the ready availability of wills and will writing services, most people in the UK, about 70% in fact, die “intestate” (without a will). People may make their wishes know to family and friends and hold on to a romantic notion that those wishes will be respected, so that there is really no need to go to the expense of having a will prepared. Unfortunately, this is all too often not the case. Many people put off writing a will because they find it morbid, a reminder of their mortality, however you should bite the bullet and get it sorted, especially if you own your home.
Understanding Money Laundering Requirements in Conveyancing Transactions
July 18th, 2012 HIP-Consultant.co.uk Posted in Legal, Property Conveyancing, Property Market 5 Comments »
Under the Proceeds of Crime Act 2002 solicitors, along with other professionals, are under a legal obligation to take reasonable steps to ensure that their firms’ client accounts are not used by criminals for the purpose of laundering money earned through illegal activities.
How will going Bankrupt affect my Home?
June 19th, 2012 HIP-Consultant.co.uk Posted in Financial Products, Legal, Property Conveyancing 4 Comments »
Bankruptcy is a frightening process; especially when there is a risk you might lose your home. It is difficult to get good advice. Your creditors are naturally looking for the options which will allow them to recover the maximum debt and you are unlikely to have money to pay for independent professional advice.
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Selling Your Property – What Land Registry Documents Do I Need
May 1st, 2012 HIP-Consultant.co.uk Posted in Land Registry, Property Conveyancing, Property Market Comments Off on Selling Your Property – What Land Registry Documents Do I Need
These days most properties are registered at Land Registry. In fact any property that has been sold or mortgaged since 1999 will have to be (unless a solicitor has made a mistake somewhere along the line). If you are selling a property that is registered at Land Registry then you don’t need to produce the title deeds, in fact these will not be sufficient. Instead you will need to produce Official Copies of various documents held by the Land Registry in respect of your property.
Leasehold Property Classes – Good Leasehold
April 4th, 2012 HIP-Consultant.co.uk Posted in Land Registry, Legal, Property Conveyancing Comments Off on Leasehold Property Classes – Good Leasehold
When buying a property which is leasehold, it will be registered with one of two classes of title – absolute leasehold or good leasehold. Ideally you will want the property to have absolute title however in the event that it is good leasehold this needn’t be a deal breaker. You may be able to insure against the risks which it presents or you may be able to upgrade to absolute title.
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
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.
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.