This page contains a Flash digital edition of a book.
is replicated by the physical reality. Often boundary stones have disappeared, or new walls have been built, making it unclear where the boundary is. In these cases, your lawyers may have to ask the sellers’ lawyers to have a neighbour brought in as a party to the contract to clarify what the boundary now is. The cost of this work is usually borne by the sellers.


7. Insurance You must arrange for buildings insurance for your new property from the date of completion. This will be a requirement of your lender. You would be well advised to take out contents insurance too.


8. Services You should deal directly with the sellers (or the estate agent) over the transfer of the services on the date of your proposed move. You must also ensure that a change of address form is completed and sent to the Parish, since it is a legal requirement that the Parish is advised of a change of address. Your lawyers should supply the form to you.


9. Possession You should also make arrangements directly with the sellers or the estate agent for the handing over of possession of the property on the completion date (or perhaps the following day), including the handing over of all keys.


10. Wills You should consider making Wills or reviewing your existing Wills to ensure that in the event of your death your real and personal estates devolve in accordance with your wishes. If you haven’t owned property before, have got married, had children or been divorced, this might be particularly important.


11. Life Insurance Since you may be borrowing money to fund your proposed purchase, consideration should be given to taking out life assurance /mortgage protection cover in the amount of the borrowing. Life insurance is usually fairly inexpensive.


12. Joint Purchase If you are buying jointly but aren’t married, you should consider entering into an agreement with your partner regarding what should happen if you were to split up and sell up. Are you going to contribute equally to the mortgage and other payments? Is one of you putting more into the deposit than the other? Is family on one side helping out with the deposit? All of these and other factors can be built into such an agreement, but it’s likely to cost extra.


13. Pre-Contract Meeting Your lawyer should meet you in good time before the contract date to go through in


detail the terms of your contract of purchase and the results of their title research and site visit. This is usually done when you’ll go through and sign loan documents too. Ideally you should be given a title report containing all of your lawyers’ findings, so you don’t have to remember all of the information thrown at you. This will be useful if you have subsequent queries regarding your property after you have bought it.


14. Passing Contract Conveyances are completed by passing contracts before the Royal Court on a Friday afternoon at 2.30 p.m. This will require either your personal attendance or that of an authorised attorney.


And that’s it! You should allow AT LEAST four weeks and ideally six from having an offer accepted before your contract date. There’s a lot to get through!


At Livingstones, we are happy to discuss your proposed purchase and related costs with you before you decide who you’re going to instruct. The cheapest quote may not be the best one for you. There might be hidden extras, or you might not be assured of the level of service you should expect for such an important transaction. So weigh up the quotes you are given, and ask to speak to the lawyer who’ll be in charge of your purchase.


25 years legal experience in personal & business law.


bus iness legal litigation • commercial


pe r s onal legal personal injury • property law • wills & estates • employment law


li


livingstones


1st Floor, La Mielle Chambers, 18 Sand Street, St Helier, Jersey JE2 3QF Tel: +44 (0)1534 747037


Email: info@livingstones.je • Web: www.livingstones.je 20/20 - The Home Page 69


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100  |  Page 101  |  Page 102  |  Page 103  |  Page 104  |  Page 105  |  Page 106  |  Page 107  |  Page 108  |  Page 109  |  Page 110  |  Page 111  |  Page 112  |  Page 113  |  Page 114  |  Page 115  |  Page 116