Freehold Property Conveyancing Guide
A freehold property is one where the owner has complete and absolute ownership of the land and all of the buildings on it. A freehold property usually imposes no obligations on the owner of the land and is the highest quality legal title that you can own in England and Wales.
When you purchase a freehold interest in a property you purchase the property and land outright. However, in some circumstances because of the layout of the property you may find that part of it overhangs another freehold property. This part of the property is then deemed to have a “flying freehold” title.
Examples of this would be where an upstairs room or a property is situated above a shared passageway or where a balcony protrudes over a neighbouring garden. In the first example, it is likely that the owner of the adjoining property may be responsible for providing support for the upstairs rooms.
Your lawyers should check that the deeds to the property contain all of the necessary responsibilities and obligations to ensure that adequate protection is in place for such properties.
Conveyancing on a freehold property involves a number of essential steps in order to complete the purchase transaction.
As a buyer your lawyer will conduct a number of searches on the property including a local authority search, water authority and drainage search and environmental search. Depending on the area the property is situated you may also have tin, brine and/or coal searches. Your lawyer will also register the property with the Land Registry, carry out identity checks and bankruptcy searches. There are all essential parts of the conveyancing process.