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What is meant by a conveyance?
A Conveyance is the sale or transfer of realty (including the purchase of a flying freehold flat) by means of a contract passed before the Royal Court.
What is meant by a flying freehold?
A Flying Freehold is a property, usually a flat but can include shops or offices, sold (through registration of a declaration of co-ownership) by contract passed before the Royal Court, notwithstanding that it forms an integral part of a larger property.
What is meant by a share transfer?
A Share Transfer (Vending) is the purchase of a property e.g. a house or flat, by means of the purchase of shares in a company, where the company owns the property and the shares give the exclusive right to occupy the house or flat in question.
Can anyone buy and live in property in Jersey?
No. In general terms, only persons qualified under the Housing (General Provisions)(Jersey) Regulations and companies (in respect of commercial property or multiple units of residential property) can purchase property in Jersey. The Population Department, in relation to each consent, will impose restrictions on the category of person who may occupy the property.
How much is it going to cost me to buy or sell a property?
Please contact us for a quotation
How can I find out how much I can borrow to buy a property?
A Buyer, before making an offer on a property, should find out the approximate amount which a bank would lend against any given property either from a bank direct or through an independent mortgage advisor. There are so many different and varied mortgage products available from the various banks it is often useful to buyers to get advice from a mortgage advisor as to the right mortgage product.
How long will it take to complete the purchase of a property?
Usually between 4 and 8 weeks, although both longer and shorter periods are possible.
Do I need a survey?
Unless a buyer is borrowing money from a bank (when at least a valuation will be required by the bank) there is no legal requirement to have a survey. It must be remembered however that property is bought "as seen" with all and any defects as may exist and therefore it is essential to have a full survey to establish the condition of the property before it is bought as there is no redress against the vendor of a property for any defects found by the buyer after the contract has gone through.
Which surveyor can I use?
If a purchaser is borrowing from a bank, the bank may only accept a surveyor with a certain qualification. When in doubt, check with your bank or through your mortgage advisor.
How will I understand the contract of purchase of my property when it is in French?
From June 2006, compulsory from November 2006, contracts are to be written in English. The buyer's legal adviser will go through the contract with the buyer prior to the contract being passed before the Court. In relation to any provisions which were created in the past in the French language, the legal adviser will translate the clauses and can provide a written English translation on request, although a charge may be levied for this additional service.
Can I be gazumped?
Gazumping is the activity whereby a third party makes a higher offer than an offer that has already been accepted by a seller/vendor of a property and the seller/vendor decides to sell the property to the person making the higher offer. The only way in which gazumping can be avoided is if the parties enter into a pre-contract agreement or Preliminary Agreement of Sale, which binds the parties on payment of a penalty to pass the contract on a given date.
Can a seller or buyer of a property withdraw from a transaction?
If an offer is made and accepted "subject to contract" then in general terms the answer is yes.
What does "subject to contract" mean?
"Subject to contract" means that an offer is not binding until a binding written agreement is executed by the parties and is a phrase used to highlight a conditional offer so that a seller or a buyer may withdraw from a transaction without any penalty to the other party at any time.
What is gazundering?
Gazundering is the practice by a buyer of withdrawing his or her offer and making a new lower offer for a property just before contract is to pass before the Royal Court.
What is Title Indemnity Insurance?
An insurance policy which covers the costs of putting right a defect in title or the cost of removing the defective item. The insurance premium is paid on a one-off basis and is based upon the insurers' perception of the risk involved and the amount of cover.
What is the procedure for selling or purchasing property?
The purchase of a property either by way of a conveyance or share transfer has a similar procedure listed here as to both seller's and buyer's respective parts:
1. Offer, most commonly through the medium of an Estate Agent. This should be made "subject to contract".
2. Acceptance of offer and the instruction of legal advisers and preparation of Housing application forms and Agriculture and Fisheries application forms (where the property includes garden over one vergee or land is involved);
3. The buyer arranges finance and obtains a survey report on the property. The buyer may have made preliminary arrangements with a bank or mortgage adviser prior to making an offer on a property;
4. Preparation by the seller's legal adviser of the draft contract of sale and Preliminary Agreements of Sale, if required, and in the case of a share transfer, the Share Vending Agreement;
5. Preparation by the buyer's legal adviser of property search requests;
6. Attendance by the buyer's legal adviser at the Land Registry to carry out the Title Check;
7. The buyer's legal adviser attends at the property to check and ascertain the boundaries and property rights (servitudes);
8. The buyer's legal adviser explains the terms of the contract and other documents to the buyer and where appropriate the Preliminary Agreement of Sale is signed;
9. On receipt of the Housing consent, contract is passed;
10. In the case of a share transfer, the buyer's legal adviser also checks the company books and registers and the share vending agreement. No contract is passed before the Court but ordinarily a meeting is arranged between the respective legal advisers and the seller and buyer for signature of the agreement and transfer of share certificates.
More detailed information and a FREE ADVICE SERVICE can be obtained by contacting Robin Troy, 01534 607838, or e-mail:
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