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What is a notice in conveyancing?
A notice is something that can be registered against the Title to a property as a form of protection to someone with an interest in a particular property. Such notices must be registered, by your Garstang solicitor, via the Land Registry Portal.
The conveyancing solicitor Preston should complete an application form which, dependent on the type of notice being registered, can vary. These forms include AN1 (Agreed Notice) or UN1 (Unilateral Notice), for example. We do, however, understand that these terms may mean very little to you, which is why our specialist team of Garstang solicitors are on hand to advise you of exactly what is required and to guide you through the process.
Why would a notice be required?
Taking, for example, an Agreed Notice. If your Garstang solicitor is dealing with a purchase of a property on your behalf, and Contracts have been Exchanged, however, there is a longstop Completion date of 12 months, an Agreed Notice may be recommended.
The terms of the Contract have been agreed, however Completion of the matter has not yet taken place. By registering a notice, the terms of the Contract can be registered in order that the parties involved must abide by the terms stipulated.
Likewise, your conveyancing solicitor Preston, may advise you that an Agreed Notice should be registered when acquiring a Lease of less than seven years. The terms of the Lease have been agreed, however, due to the time scale, it may be advisable to register a Notice in order that all of the easements and rights, granted to you within the Lease, are protected.
The above are just examples of when notices may be required, there are many more situations where the same may be required. As are there many other types of notice which your Garstang solicitor may recommend dependent on the individual circumstances.
What is the importance?
A recent case has brought about the importance of this in which a Manchester conveyancing solicitor has failed to register the appropriate AN1 – Agreed Notice, of interest in a property. The property was then sold and, as the interest was not secured against the property at the time of selling, the client was left unprotected and £40,000.00 out of pocket.
The matter was taken to the Solicitors Disciplinary Tribunal where it was concluded the acting solicitor was to be fined £5,000.00 and to pay £3,452.00 in costs. It was determined that the solicitor had failed to comply with an Undertaking which was a ‘material breach of his obligations to protect the public and the reputation of the profession’.
Your Garstang solicitors understand the utmost importance of such protections and are always on hand to ensure clients interests are secured, when required.
For more information on notices, or any other conveyancing query, contact our specialist team of Preston solicitors today at firstname.lastname@example.org or on 01995 602 129.
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