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Beginners Guides, Case Tracker, Contract, conveyancer, Conveyancing, Conveyancing Quote, terms and conditions, Title Deeds    No Comments

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Picture this, you are buying a house, a lovely Victorian terrace and a few weeks after the day of completion your Conveyancer sends you an email with an attachment to a three page document advising you that this is the title to your property.

We live in a digital age

This cant be right can it? Where are the giant yellow hand written documents, the wax seals, the sense of importance? Well, unfortunately for those nostalgics out there, we live in a digital age  and these are your Deeds. Since the introduction of compulsory land registration in 2002, although these deeds are nice to have around, they mean very little as all the relevant information for the property and its ownership is registered online with the Land Registry. Lenders, when they held a mortgage over a property used to hold the deeds as collateral but once registration of a property had taken place, very often the deeds were destroyed to save on storage costs.

Pre-registration deeds

So, although in some cases, your Conveyancer might still send you a musty old folder of what we now call “pre-registration deeds” which may be very interesting to read through, they don’t really hold a lot of value anymore and we don’t treat them with the same care we used to. Most Conveyancers wont even store pre-registration deeds for you in their deeds store as it is unnecessary.

Peace of mind for you

So, if you receive a  letter saying you now hold you title, we aren’t being mean and holding back the good stuff, this is all we have. Having said that, remember that having your title registered with the land registry centrally in your name is much safer than holding those old deeds in your hand.   It means if the pre-registration deeds are lost or destroyed, its not really that much of a concern to an owner, their solicitor or a prospective buyer. It’s all safely stored for you electronically.

Have any questions?

If you have any questions about your deeds or if you want to find out if your property is registered, then don’t hesitate to speak to your Conveyancer on 01623 45 11 11.

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business, terms and conditions    No Comments

It is vital that the terms and conditions of any business that supplies goods provides protection in the event that customers struggle to pay their bills, fall into financial decline or, worse, insolvency.  By ensuring that a Retention of Title Clause (ROT) is included in their terms and conditions, businesses can go some way to ensuring that even if they don’t get paid, they retain the right to possession of the goods that they supplied.

 

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Reclaim control

The purpose of an ROT clause is to ensure that the supplier reserves the legal title to their goods until the goods are paid for by the customer. This means that in the event that a customer becomes insolvent, the supplier retains the contractual right to jump the queue of creditors and reclaim possession of their goods.

No ROT clause can replace doing proper checks on the customer before entering into a contract with them. It is better to get the comfort that your customer is financially viable to begin with, than to deal with problems further on down the line when things have gone wrong.

Drawing attention

A supplier must take all reasonable steps to bring a ROT clause to its customer’s attention before or at the time the contract is made.  It is therefore important that the terms and conditions containing the ROT clause are brought to the customer’s attention at an early stage and as many times as possible- on the back of quotes, order request forms etc.  It is no good attaching the terms to an invoice on delivering the goods as the moment that the contract was entered into will have passed.

Effective protection

In order to be as effective as possible a ROT clause should include:

  • an obligation on the buyer to store goods separately and to label them ;
  • a right for the supplier to enter the customer’s premises periodically to inspect the goods;
  • a list of events, including failure to pay on time, which would allow the supplier to demand payment and enter premises to repossess goods.

If you are in any doubt as to how effective your terms and conditions are, then you should seek legal advice.  For more information contact a member of our business team on 01623 663246.

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