Saturday, May 30, 2009

Property Law

By Pri Vag

The property market is now showing signs of a recovery and this is good news for the economy in general. Over the last 18 months we have seen property prices crash and many home owners have gone into negative equity. This situation has caused many problems for families and first time buyers alike.

With this turn around in fortunes, more people are now considering stepping on the property ladder and buying a new house or flat. With this turn around, solicitors play a vital role in the completion of these housing deals.

The duties can include stamp duty land tax formalities and the registration of your title and for properties of a commercial nature can include purchase of business premises. Also conveyancing is extremely important when considering a new property. This can make sure there are no pit falls when buying a new property.

Further roles for a solicitor when buying a property can involve Leasehold Extensions (Leasehold enfranchisement) and collective enfranchisement (buying the freehold to your building). This has also been a growth area in recent years in London and looks set to continue that way for some time.

Therefore it is imperative that you find a local solicitor to provide you with guidance and advice throughout the process and explain the steps involved, from the initial stages right through to completing the transaction on the date when you move into your new home.

Finding the right solicitor can make the daunting process of buying a residential home or commercial business that much easier and can ease the mind of the customer. It can also make the whole process quicker, easier and more efficient which of course aids both parties. So choose your solicitor carefully when buying a property as it can make the difference between a smooth transition and a nightmare scenario.

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