Monthly Archives: January 2017

solicitors in Portsmouth

How solicitors in Portsmouth help in conveyance

Portsmouth has in the past few years experienced rapid growth in the housing market. The number of property for sale has been increasing. Home buyers have come from various parts of the UK to seek residence on Portsmouth. Solicitors have facilitated the growth of the housing market in Portsmouth. These lawyers have ensured that property transactions take place smoothly. The solicitors have been the backbone of smooth and clean real estate transactions. Without the solicitors, conveyance would be marred with errors and even result in serious ownership disputes.

Solicitors involved in conveyancing are experts in the art of property transaction. They are lawyers whose speciality is only real estate transaction. The Solicitor Regulation Authority(SRA) registers the solicitors. SRA is a legally established institution. This body ensures that the solicitors are well trained in the conveyance. It is in charge of vetting and registering the solicitors. The body guarantees home buyers and sellers that the lawyers they are working with are honest and capable of handling all issues involving real estate purchase and registration.

Solicitors Responsibilities

Conveyance is a complicated and legally intensive affair. This is why buyers and sellers cannot carry out conveyance by themselves. They need someone who is trained in law to represent them during conveyance. An individual, no matter how good he is in business, cannot play the role of solicitors in the conveyance. Real estate transaction goes beyond negotiation for commodities and prices. Sometimes disputes arises that can only be resolved in court.

Solicitors have to follow a set of principles and ethical standards. These are spelt out in the Solicitors Handbook. The principles are guidelines that solicitors must adhere to during their dealings with clients. Breach of a principle by acts of dishonesty or theft of funds is punishable by the Solicitor Disciplinary Tribunal. Some solicitors have felt the wrath of Solicitor Disciplinary Tribunal. Some have had to financially compensate their clients while others have had their certificate of operation withdrawn. This just shows how serious conveyance is and why solicitors are vigilant with their jobs.

Solicitors are the custodians of all information relating to conveyance. They are trained enough to know all there is to know about property transaction. This is just as well since real estate market has come up with methods of home ownership that can be highly challenging to understand. A point in case is the leasehold ownership. Leasehold ownership is when an individual stays in a freeholder’s property for a long but defined period of time. He may or may not have to pay ground rent. The cost of maintaining a property that is in leasehold is shared between the leaseholder and the freeholder. Law clearly defines the share of these expenses. There are property maintenance costs that a leaseholder must pay for and those that by the freeholder. It is this kind of complicated home ownership that makes solicitors indispensable in the conveyance.

Solicitors also help p in facilitating communication between buyers and sellers. Buyers and sellers communicate a lot during conveyance. They have to exchange documents such as Title Deeds and contracts. They also have to agree on the prices of the properties and the obligation of each one of them during conveyance.

researching conveyancing services

The importance of researching conveyancing services

Solicitors help their clients in finding out the background of properties that they intend to buy. It is important to know all facts surrounding a property before buying. Some of the findings of the research will help a buyer predict future financial obligations as well as your social responsibility in your new neighbourhood. Researching conveyancing services  covers matters such as property ownership, water, sewerage, and mining research.  The buyer must pay for these researches. The cost of research is usually different from solicitor’s fees.

Every buyer must know the true identity of the owner of a property before buying the property. This helps to reduce chances of fraud and prevents ownership disputes that may arise in the future. Sellers usually give buyers a copy of Title Deeds and other documents of ownership to the purchaser at the beginning of conveyance. These documents are not sufficient to confirm identity. Forged documents are a possibility and should be checked by a solicitor. Besides, the seller may not be in the record of the Land Registry. This is why research for ownership is vital.

Solicitors research for property ownership by going through the records of the Land Registry. Land Registry has names and deeds for all real estate properties in the United Kingdom. If the property is not registered, then the buyer and his solicitor must rely on documents that the seller provides. They must scrutinise the documents to ensure that the documents are genuine. They can work with a specialist from the Land Registry to help them determine the veracity of records proffered by the seller.

The other necessary conveyancing research is water and sewerage research. Water and drainage research elucidate adequacy of water supply and drainage of property. It also helps in establishing if there will be any developmental changes in water and sewerage systems. A solicitor conducts water and drainage research by colluding with local authorities that are in charge of those services. The solicitor will find out the amount of water supplied to property. He will also find out the source of the water and how the water is treated before being pumped to the property. It is also important to check the map of pipes and their relation to the property. This will enable the buyer to avoid interfering with the pipes when constructing new structures.

Mining research is another important conveyancing research service. Mining activities affect properties and residents within their neighbourhood.  The nature of the mines determines how and to what extent properties and their owners will be affected. Loud mines pollute the air and interfere with building foundations. Mining with dynamites also affects structural integrity of nearby properties.  A solicitor should find out if the property has the capacity to withstand earth-shaking effects of mining. The solicitor should also know the amount of air pollutants within the vicinity of the mine. This information will influence the buyer’s decision to proceed with the conveyance, or to terminate it altogether.