All land in England and Wales, whether or not it is registered, has a freehold title. In addition the freehold of a particular property may be subject to a leasehold title. If this is the case then it is the leasehold title that has by far and away the greatest value since it is the owner of this title that has the right to occupy the property for the term of the lease, however the freehold does still have value.
Investing in Freehold Reversions
December 8th, 2010 HIP-Consultant.co.uk Posted in Land Registry, Landlords, Property Market Comments Off on Investing in Freehold Reversions
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 6 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 Comments Off on How to Claim Ownership To Land
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.
HIPs a shame for the property market?
October 13th, 2010 HIP-Consultant.co.uk Posted in Home Information Packs, Property Market 3 Comments »
Property prices continue on their downward trend in September for the third month in a row. This downward trend is evidenced from figures released from Nationwide, Halifax and today RICS and certainly not the news those who recently enetered the market will be wanting to hear.
Updating Names on the Registers of Title
August 31st, 2010 HIP-Consultant.co.uk Posted in Land Registry, Property Conveyancing 2 Comments »
There are a number of situations which might occur during a person’s life which may render the name or names appearing on the registers of title to that person’s property inaccurate and in need of correction. It is not a legal requirement to make the correction however it will need to be dealt with when the property is sold (or inherited) and dealing with it straight away will help to avoid delays at that stage, as well as reducing the risk of any fraud whereby a person for example assumes an identity which no longer exists in order to borrow money against the property.
When Building Regulations Approval Has Not Been Obtained
August 23rd, 2010 HIP-Consultant.co.uk Posted in Local Authority Searches, Property Conveyancing 4 Comments »
Building regulations are designed to ensure that building works are done to set standards of safety and energy efficiency. The framework for the law is set out in the Building Act 1984. This statute allows regulations to be made as and when necessary to update the law and there have been several editions since the Act.
De Mystifying the Remortgage Process
August 9th, 2010 HIP-Consultant.co.uk Posted in Mortgages, Property Conveyancing 2 Comments »
With banks gradually starting to lend again and while interest rates are still low; now could be considered a good time to be thinking about remortgaging, so as to secure a good rate of interest for a few more years.
Obtaining Conveyancing Searches
July 30th, 2010 HIP-Consultant.co.uk Posted in Land Registry, Local Authority Searches, Property Conveyancing 2 Comments »
For the past few years obtaining the conveyancing searches has been the responsibility of the home information pack provider since the major ones, the local authority search and drainage & water search, were a compulsory part of it. Now that HIPs have been suspended the searches must be obtained by the purchaser (or his conveyancer).
So You Want to Evict a Tenant
July 8th, 2010 HIP-Consultant.co.uk Posted in Landlords, Property Conveyancing Comments Off on So You Want to Evict a Tenant
Nobody wants to have to evict a tenant but unfortunately there is sometimes no option but to do so. When this happens the proper legal process must be followed to ensure the eviction is successful and the landlord is not guilty of an offence.