Conveyancing in Nottingham,Transfer at Undervalue Risk

Selling a property that has been owned for less than 5 years, will always cause alarm to Conveyancing Solicitors in Nottingham, as there is a danger that the transfer could be set aside if it is established that the property within that 5 year period was a Transfer at Undervalue.

Conveyancing Solicitor in Nottingham, Dawn Thomas explained the concern to Mr R when taking on the transfer of his property in Bramcote Lane and assured him that the matter would be fully investigated and insurance taken out to cover such a matter.  

The freehold property valued at £192, 000 falls within the local authority of Nottingham Council.  Local searches were clear of issues, however the Land Registry documentation revealed that the property was subject to rights/restrictions/covenants of a transfer dated April 1965.  These restrictions were thoroughly examined to ensure that they were fully complied with.  

The estate agent used with the initial negotiation was Halifax Estate Agents branch covering Nottingham and the seller's Conveyancing Solicitor in Nottingham was Wolstenholmes.