In August 2008 Fridaysmove residential Canary Wharf and Poplar conveyancing team took instruction on the purchase conveyancing for a 999 year leasehold for a property valued at around £410, 000. The property is located at Antilles Bay Apartments, 3 Lawn House Close, London, E14.
Fridaysmove conveyancing team conducted additional enquiries. These were raised within the same day of receiving letter with draft contract papers. It was discovered that Planning permissions were revealed on the property. These were investigated by Fridaysmove conveyancing in Canary Wharf and Poplar planning department. The Land Registry documentation revealed that the property was subject to restrictions/rights/covenants as set out in a transfer dated 09/10/1997. It was important that our property lawyer s check with the sellers conveyancing solicitor that the aforementioned restrictions/covenants etc. had been fully complied with.
The Land Registry Office Copies supplied to us at Fridays 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.
Transfer at Undervalue:The transfer of property or an interest in it (for example a transfer by the owner into the joint names of himself and another) by way of gift or for a price less than the current market value of the property.
The estate agent's memo of sale detailing the sellers conveyancing solicitor was obtained shortly before receiving the letter with draft contract papers. This document outlines the sale/purchase property, the price, the Purchaser and the Seller’s details and details of their respective conveyancing teams. It is worth noting that a Sales Memorandum does nothing more than record the agreement reached between the parties subject to contract and forms no part of a contract for the sale of the said property between the parties
The managing agent is Dollar Bay Management Company Limited.
Sayrha Elahi was the Fridays property lawyer in charge of conveyancing in Canary Wharf and Poplar, Tower Hamlets, East London.
The estate agent was the Felicity J Lord branch covering Canary Wharf and Poplar.
The local authority area of the residence is http://www.towerhamlets.gov.uk/" target="_blank">Tower Hamlet Council .
The seller's conveyancing solicitor Canary Wharf and Poplar was Fridaysmove Limited – DX 37900 Kings Cross. Tower Hamlets, East London.
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