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Archive for the ‘Property Law’ Category

UK Property Law

Monday, November 1st, 2010

UK property law defines rights and obligations of parties in different property related contracts such as agricultural tenancy, general rental, business leases, easements and mortgages. In addition, the property laws in UK also identified common keep properties, co-ownerships, estoppels, consent, human rights, trespassing, property related nuisance and various types of assets.

Formerly, laws relating to agricultural tenancy in the UK were framed under the Agricultural Holdings Act 1986. In 1995, the Agricultural Tenancies Act was passed adding more laws to existing regulations. Regulatory Reforms again restructured these in 2006.

Disputes relating to properties are often relating to the boundaries and property ownership. The Land Registration Act of 2003 was passed to resolve related disputes. This act became applicable in October of 2003. It contained new provisions on “adverse possession”, registration of properties, and title.

These Acts and reforms contain provisions relating to business leases, license, occupation, period of occupation, subletting of any residential property or properties by the business, lease terms, lease renewal, etc. The Landlord and Tenant Act, and The Landlord and Tenant (covenants) Act also contain provisions relating to general leases, discrimination, estoppels, distress, forfeiture, insolvency, indemnity, notices, nuisance, breach, disrepair, rent, unlawful eviction, termination of tenancy, service charges, subletting, sharing of occupation, sharing of possession, restraint on trade, and re-entry rights, in so far as they relate to lease of any property, including residential property.

These acts also contain provisions related to long leases. The Commonhold and leasehold Reform Act, of 2002 was followed by a reform act in 2003. As of now, Commonhold Regulations 2004 are applicable on commonhold properties in the UK. There are Commonhold (Land Registration) Rules as well. Issues arising out of co-ownership of properties, and relevant estoppels are governed by the Trusts of Land Act of 1996.

The Housing Act, 2004 contains several housing related provisions, such as provisions relating to condition of housing, licensing laws for multiple occupation, and selective licensing in case of residential houses. Property laws in UK related to mortgages are covered under the Consumer Credit Act, 1974 and 2006. These contain provisions relating to interest, forgery, money claims, mortgage indemnity, mortgage possession, sale and lease back contracts, undue influence, and unfair terms of mortgage.

UK Property Law – Guide and Information

Wednesday, June 9th, 2010

Property law is the area of law that governs the various forms of ownership in property. These include, agricultural tenancy reform, boundaries, business lease renewal, common hold, co-ownership and estoppels, easements, housing acts, landlord and tenants, long leases, mortgages, nuisances and trespass, planning, property litigation and ADR, property transactions, public access to land, residential tenancies and restrictive covenants.

The property law gives information on buying and selling a property or conveyancing. This takes place when a property for sale is requested by a buyer and the seller accepts the buyer’s offer. There is an exchange of contracts and a deposit agreed by both parties and a completion date is agreed upon, during which there is an exchange of the remaining balance and the keys to the property.

The law does not stipulate that conveyancing be done by a solicitor. Any individual can to this without a lawyer. However, it is very difficult and risky to do without the aid of a solicitor that knows the law properly. The cost of conveyancing depends on the cost of the property and interested buyers or sellers can compare costs with different solicitor firms.

The UK property law stipulates that it is compulsory for most homes on the market in England and Wales to have an HIP- Home Information Pack. A HIP is now available on a property as soon as it comes on the market. A HIP is a set of documents that provides the buyer with essential information on the property and must be provided by the seller or the seller’s representative. A property cannot be marketed without its HIP and it is provided to a potential buyer at no cost.

Co-ownership of a property is also explained in the UK property law. This is when a house is bought jointly by more than one person, such as a couple or friends. Joint tenants own the entire property together. If the joint tenants decide they want to go their separate ways, then they should request to sever the joint tenancy. Severing the joint tenancy converts the tenancy so that each tenant owns their share of the property.

The UK property law also discusses the rights of unmarried couples who buy a property and property disputes as well as stamp duty that must be paid when a house is purchased. The UK property law is liable to updates and changes that property solicitors are obliged to be aware of. Therefore, it is always advisable to go through a solicitor when buying or selling a property.