What Should an Investor Expect from their Conveyancing Solicitor
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What Should an Investor Expect from their Conveyancing Solicitor

Amy: What should an investor expect from their
conveyancing solicitor? Pam: Conveyancing for a solicitor is really
about ‘title’. So, I’m not there to advise you about investments. You’ve got an IFA for
that. And I’m not really there to tell you about taxes because you got an accountant
for that. What I’m there to do is to tell you that the
property’s title and the marketability of that title. There are different kinds of title in the
UK, which is different from other countries. We have freehold and leasehold here. Leasehold
is an alien concept in the United States. So, you need to know the differences between
freehold and leasehold. You need to know the difference between a ground rent a rent-charge
and you need to know about encumbrances or restrictive covenants. And if your conveyancer can talk you through
all of that and tell you that you’re getting a good and marketable title that you will
easily be able to sell or do whatever you want with it. Let’s say you want to take that property and
split it into flats. You need to have a single, nice, clear, freehold title to be able to
split it into a bunch of apartment leases. So, that’s really what you’re conveyancer
is there for. To help you with legal title. And if your conveyancer is giving you lots
of other advice about the market, about financing, whatever, then maybe they are not focused
quite on what you want them to focus on which is, really, legal title. Amy: Yeah, that makes sense, thank you.

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