Purchase of leasehold property : Stanhope Street, London, NW1 - Conveyancing in Camden Town -

In August 2009 Fridaysmove residential conveyancing Camden Town team acted on the purchase conveyancing for a 125 year leasehold for a property valued at around £350, 000. 00 located at Stanhope Street, London, NW1. This home is in the local authority of Camden Council Borough Of London - www.camden.gov.uk/.

Additional enquiries were raised within the same day of receiving letter with draft contract papers (including Standard Conditions of Sale, Official Copies, Land Registry Documentation).

The Land Registry Office Copies supplied were out of date and accordingly fresh copies were requested from the sellers conveyancing solicitor. The Land Registry Office Copies supplied revealed that the sellers had owned the property for less than five years and as such there was a danger that the transfer of the property to the seller could be set aside if it was established that the property within that five year period was a Transfer at Undervalue.

The Office Copies obtained from the Land Registry revealed that there was more than one mortgage over the property. We had to satisfy ourselves that the vendor was not in negative equity and would be able to discharge all mortgages over the property. A Housing Act Charge was apparent in the Office Copies supplied by the sellers conveyancing solicitor.

It was imperative that we ensured that this financial charge was repaid so that our client did not inherit the debt. Mary Spiteri-Panayi was the property lawyer in charge of conveyancing in Camden Town, Camden, North West London, London.

The estate agent's memo of sale detailing the sellers conveyancing solicitor was obtained shortly before receiving the letter with draft contract papers.

The estate agent was the Your Move branch covering Camden Town. - http://www.your-move.co.uk. The seller's conveyancing solicitor Camden Town was Fridaysmove Limited - DX 37900 Kings Cross. Camden, North West London, London, Camden Town - Conveyancing - leasehold : Camden Town