What's The Name of That Legal Thingy?
Upcoming SlideShare
Loading in...5
×
 

What's The Name of That Legal Thingy?

on

  • 3,745 views

What's the Name of That Legal Thingy? An A-Z Guide Through The Jargon of Conveyancing

What's the Name of That Legal Thingy? An A-Z Guide Through The Jargon of Conveyancing

Statistics

Views

Total Views
3,745
Views on SlideShare
3,183
Embed Views
562

Actions

Likes
25
Downloads
30
Comments
2

10 Embeds 562

http://www.cluttoncox.co.uk 318
http://cluttoncox.conscious.co.uk 181
https://www.linkedin.com 34
https://twitter.com 21
http://read.cluttoncox.co.uk 3
https://tweetdeck.twitter.com 1
http://sugarcrm.conscious.co.uk 1
http://www.linkedin.com 1
http://lnkd.in&_=1410000315067 HTTP 1
http://lnkd.in&_=1410009197838 HTTP 1
More...

Accessibility

Categories

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

What's The Name of That Legal Thingy? What's The Name of That Legal Thingy? Presentation Transcript

  • CONVEYANCING IS The process of transferring the legal ownership of a property from one owner to a new owner.
  • The Conveyancing process has developed over many hundreds of years.
  • Inevitably, there are technical words or phraseswhich you might not have come across. Many Conveyancing Solicitors still use jargon and old-fashioned phrases
  • hereinbefore & aforesaid mentioned YUK!
  • Plain English Occasionally, you will find some Conveyancing Solicitors who promise to speak in… We at Clutton Cox do at least.
  • A – Z Guide for you in Plain English to help explain Conveyancing Jargon.
  • Contract for Sale: The legal document which sets out the terms of the sale and purchase of the property. There are two Contracts for Sale issued: one for the Seller to sign and one for the Buyer to sign. A legally binding agreement takes place when there is an Exchange of the signed Contracts. A Contract is not valid without an agreed Completion Date.
  • Caveat Emptor: It means “Let the Buyer Beware”. A Buyer must make all enquires and surveys before committing to buy a property. The only bit of Latin (we promise) zzzz
  • Easement: A right benefiting one property over another, such as a right of way on foot and/or for vehicles.
  • Leasehold: Ownership which is time dependent and subject to more restrictions and obligations than freeholds e.g. flats which can run for 99 up to 999 years.
  • Guarantor: Someone who agrees to pay a mortgage on a property in the event that the borrower/owner defaults on payments. Usually this is a parent or guardian. Thanks Mum and Dad!
  • The alternative is Tenants in Common: The owner owns a specific percentage of the property and its proceeds of sale e.g. 50/50 60/40 = =
  • Not many people know this, but the word derives from the Norman French meaning literally, “death pledge”.
  • Official Copies of Register & Plan: Official copies of the registered title to a property from the Land Registry showing who owns a property what rights and what restrictions apply and what mortgages if any are outstanding on the property.
  • Pardon me…
  • A Rentcharge only relates to freehold property and is not to be confused with Ground Rents which only relate to Leasehold properties.
  • £
  • Registered Land: Property (freehold and leasehold) where proof of ownership and matters affecting the property have been authenticated (registered) by the Government Department known as the Land Registry.
  • £
  • (e)XTRA MILE THIS WAY CLUTTON COX
  • You: The most important person as far as we are concerned. Not us, not what we do, but YOU.
  • Z Z
  • Here ends (phew! Almost wrote “endeth”) the first lesson.
  • By the power of the Internet, this presentation is available for sharing. We would love it if you shared this with your family, friends, and colleagues.
  • Clutton Cox Solicitors are based in Chipping Sodbury, Bristol but we really do cover all of England and Wales. Follow Us on Twitter @cluttoncoxlegal Or Just Plain (see what we did there) get in touch info@cluttoncox.co.uk 01454312125