Adverse possession is a legal process through which a person who is not the legal owner of a piece of land may become its legal owner by occupying it (possessing it) without the consent of the true owner (adversely) for a required period of time. This rule may initially seem unusual, and indeed it is,
During the due diligence process of purchasing a property, your solicitor may uncover issues that could pose future problems or lead to costly financial consequences. Indemnity insurance serves as a protective policy that covers the financial implications of third-party claims. It plays a crucial role in safeguarding against these risks, as it involves a one-time
In England and Wales, there are two primary ways to own property: Freehold ownership (also referred to as a freehold title or interest) Leasehold ownership (also referred to as a leasehold title or interest) Both freehold and leasehold titles can be held by individuals or entities, such as companies. Freeholder The freeholder possesses freehold title
Before purchasing a property, your solicitor will conduct various property searches as part of their due diligence. One of the most common searches conducted is an environmental data search, also known as a desktop search. This search aims to assess the risk of land contamination and other relevant factors by gathering information from regulatory bodies,
Viewing properties can be overwhelming and evoke a mix of emotions for potential buyers. First-time buyers, in particular, may feel excited and charmed by a property, sometimes overlooking crucial checks that could lead to problems later on. Even experienced buyers can feel rushed in today’s competitive housing market. Buyers often feel pressured to make quick
When purchasing a property, you’ll be asked to choose between holding it as joint tenants or tenants in common. Before deciding which option best suits your circumstances, it’s crucial to fully understand the differences between the two. Joint Tenants All equity in the property is jointly owned by the owners. If one owner passes away,
Purchasing a property is not just a financial investment for most people; it’s often the most significant purchase in their lives. Research indicates that this process can also be one of the most stressful life events, comparable to experiences like the death of a loved one, divorce, or job loss. Why does buying a property
It is not uncommon for privately owned land to have a public right of way across it. As a landowner, it is crucial to understand your obligations regarding any rights of way crossing your land, as failure to comply can have serious consequences. Rights of way in England and Wales have a long history dating
At some point in your life, you may need to make a statutory declaration. Here, we explore the reasons behind this requirement, where it occurs, and how you can go about making one. Why might I need a statutory declaration? You may need to swear a statutory declaration for various reasons, including non-legal matters like
Navigating the purchase of your first property can feel like stepping into the unknown for many. Amidst the plethora of information available offering advice and guidance, not all of it comes from professionals in property transactions. As a result, buyers can unknowingly fall victim to common myths. Here, we aim to debunk some of these
