Home Information Packs
From early 2007, the Government proposes that anyone wishing to sell their property will need to be in possession of a “Home Information Pack” (HIP). The HIP will be brought into existence by the Housing Act 2004 and will herald the dawn of a new era in conveyancing transactions.
It is envisaged that HIPs will be prepared by the person whose job it is to market the property (ie, normally, the estate agent) and the underlying purpose behind the HIP is to ensure that important information in respect of the property being sold is made available at the very beginning of the conveyancing transaction, rather than half way through, thereby drastically speeding up the whole process and reducing the risk of the deal collapsing.
The HIP is likely to include the following documents, most of which...
Unlike in America, Pre-Nuptial Agreements (Agreements setting out what will happen to the parties’ assets if they subsequently divorce), so long favoured by Hollywood stars seeking to protect their wealth, have not, until recently, been recognised by the Courts on this side of the Atlantic. There is a very simple reason for this, in that the English Courts have been reluctant to acknowledge the existence of a document that effectively undermines the sanctity of marriage.
However, a recent High Court case changed all this. For the first time, the Courts provided guidance upon the way in which Pre-Nuptial Agreements (“PNAs”) are to be viewed by the English Courts.
The Courts will, subject to the interests of any children of the parties, consider enforcing a PNA as long as a number of certain...