Types of Property Ownership

permanent and absolute tenure of land or property with freedom to dispose of it at will.

Freehold

The Property Information Form should be completed with as much detail as possible; presenting original invoices and guarantees where possible including but not limited to boiler maintenance checks, FENSA/NHBC certificates, planning permission, building control, electrical checks. By providing as much information as you have about your home will in turn speed up the conveyancing process, as additional enquiries will be raised by the buyer's solicitor flagging up any missing details. It is often the case that the conveyancing transactions that take the longest are those where the seller failed to provide information about their property.

Leasehold

The Fittings & Content Form is one of three standard Law Society protocol forms a seller completes; the others are Property Information Form (TA6) & Leasehold Information Form (TA70 (applies only to leasehold and share of freehold properties).

Although it is not compulsory for a seller to complete, it ‘oils the cogs’ of the conveyancing process because it presents, in a logical format, facts and documents which may be relied upon by the buyer. Much like when you buy a car you want to see the car's full service history and invoices for works done, when you buy a home you would want to see all the invoices and guarantees for any work completed or equipment being sold with the property.

See Also In Chimni

Chimni Wiki TA Forms Overview

Chimni Wiki Property Information Form (TA6)

Chimni Wiki Sales Documentation

Other Interesting Web Sites

Home Owners Alliance - Freehold vs Leasehold www.hoa.org.uk/freehold-v-leasehold

References

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