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Insights, News & Legal Updates
What happens when someone dies without making a Will?
When someone passes away without making a Will their estate is dealt with by a set of rules in law called Intestacy. The rules of Intestacy set out clearly a list of people who are entitled to inherit should somebody pass away without having made a Will. This can also apply when somebody makes a Will but it is deemed to not be a valid legal Will i.e. when it has not been signed properly at the time that the Will was made. We have set out below the sequence of people who would be entitled to inherit in the order of priority which will help you understand the rules of Intestacy and how they apply when someone dies without having made a Will.
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Tenants - Purchasing the freehold of your building
A group of Tenants in a building can join together to purchase the freehold of the building under what is known as “Collective Enfranchisement”. It stems from a provision in the Leasehold Reform and Housing Urban Development Act 1993. Here is a Guide that sets out how a Tenant qualifies and the procedure that they must follow to purchase the freehold of the building.
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Boundary Walls
Boundaries that divide two properties, particularly residential ones, are one of the main causes of disputes between neighbours. When you purchase a property it is critical that your Solicitor clearly identifies where the boundaries to the property are located and who has responsibility for maintaining them. This is a Guide which will set out your rights with regard to boundaries and it will provide you with options as to how to resolve boundary issues before they become a dispute.
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Capital Gains Tax
Capital Gains Tax is a tax when you sell an asset such as a business, a second property or shares. The amount of tax that you pay depends on your income and the amount of gain. The tax is on the ‘profit’ when you sell or dispose of an asset that has increased in value.
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New Stamp Duty regime in Wales - Land Transaction Tax
On the 1st April 2018 the first tax law for 800 years to be determined by a Welsh Government will come into effect. Land Transaction Tax will replace UK Stamp Duty Land Tax (SDLT) in Wales alone. SDLT will cease to apply in Wales from the 1st April 2018 as a result.
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Second Home Owners in Gwynedd - Changes to the Council Tax in April 2018
In April 2018 Gwynedd Council are planning to increase the Council Tax due for second homes and empty properties. This increase will represent in some cases a dramatic change in the amount of Council Tax second home or holiday home owners will have to pay. The changes come into effect on the 1st April 2018.
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Landlords - New Energy Performance Certificate Rules
All rented properties should have an Energy Performance Certificate (EPC) from the 1st April 2018. Any new lets and renewals of tenancies can only take place if the property has a minimum energy performance rating of E on the property’s EPC. On all existing tenancies that are in place at the moment this minimum E standard of energy performance will come in to effect on the 1st April 2020.
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New Homes - A Guide to Help To Buy Wales
The Welsh Government has set up a shared equity loan scheme which provides loans of up to 20% of the purchase price of a new build property. Here is a useful guide to help you understand whether you qualify and how much loan you could obtain to assist with the purchase of a new property.
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Japanese Knotweed
Japanese Knotweed has become a hot topic in property purchasing recently. Commonly associated with rivers and railways there was a time a few years ago when having Japanese Knotweed on or in the vicinity of your property meant that some Mortgage Lenders were refusing to provide lending. Greater awareness surrounding the issues concerning Japanese Knotweed has meant that Lenders nowadays are considerably more educated as to the pitfalls and effects of this invasive plant but despite it being such a topic of debate in property purchasing most people do not know what Japanese Knotweed is and how it can affect a property. We have put together a Guide which summarises the sort of issues that can be caused by Japanese Knotweed and how to overcome them. It will be useful for anybody looking to sell a property who has Japanese Knotweed in or around their property or prospective purchasers.
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