Disbursement - Revision history

Designing Buildings at 07:16, 9 December 2020

2020-12-09T07:16:10Z

← Older revision		Revision as of 07:16, 9 December 2020
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	* VAT.		* VAT.

−	[[Category:Planning_permission]] [[Category:Property_law]] [[Category:Client_procedures]] [[Category:Contracts_/_payment]] [[Category:Property_development]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Planning_permission]] [[Category:Property_law]] [[Category:Client_procedures]] [[Category:Contracts_/_payment]] [[Category:Property_development]]

Designing Buildings at 07:11, 10 July 2018

2018-07-10T07:11:33Z

← Older revision		Revision as of 07:11, 10 July 2018
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−	A disbursement is a type of payment which is made from a bank account or other funds, or a payment that a third party ~~(i.e.~~ a solicitor) makes on behalf of their client for which they are entitled to reimbursement.	+	A disbursement is a type of payment which is made from a bank account or other funds, or a payment that a third party such as a solicitor makes on behalf of their client for which they are entitled to reimbursement.

−	~~The disbursing of money is a part of cash flow which, if negative, indicates that disbursements are higher than revenues.~~ Common examples of disbursements include money paid out for the running of a business, cash expenditures, dividend payments, and payments made by an organisation’s solicitor to third parties for certain fees (e.g. court, medical, courier fees, expert reports, etc.).	+	Common examples of disbursements include money paid out for the running of a business, cash expenditures, dividend payments, and payments made by an organisation’s solicitor to third parties for certain fees (e.g. court, medical, courier fees, expert reports, etc.).

−	During the conveyancing process, disbursement is a type of payment made ~~where~~ property ownership is transferred from one party to another.	+	During the conveyancing process, a disbursement is a type of payment made when property ownership is transferred from one party to another. Disbursements are not part of a solicitor’s basic fee, nor are they additional charges for which the solicitor receives a commission; instead they relate to various fees and taxes that must be paid.
−		+
−	Disbursements are not part of a solicitor’s basic fee, nor are they additional charges for which the solicitor receives a commission; instead they relate to various fees and taxes that must be paid.	+

	The most common disbursements that can apply to property purchases include:		The most common disbursements that can apply to property purchases include:

Editor at 11:58, 4 July 2018

2018-07-04T11:58:57Z

← Older revision		Revision as of 11:58, 4 July 2018
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	* Official copy entries and filed plans.		* Official copy entries and filed plans.
	* Landlord’s registration fee (may be payable to the freeholder for registering details of the ownership change).		* Landlord’s registration fee (may be payable to the freeholder for registering details of the ownership change).
−	* Search fees. For more information, see Search fees.	+	* Search fees. For more information on the various different types, see [[Search_fees\|Search fees]].

	Some disbursements may need to be paid up-front while others will be required when the purchase completion is due. Some of the fees are of fixed amounts and can be given with the original quote, however, others are variable and will be determined by the property purchase price or the particular charging structure of local authorities.		Some disbursements may need to be paid up-front while others will be required when the purchase completion is due. Some of the fees are of fixed amounts and can be given with the original quote, however, others are variable and will be determined by the property purchase price or the particular charging structure of local authorities.
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	* Property ownership.		* Property ownership.
	* Property rights.		* Property rights.
		+	* Search fees.
	* Stamp duty land tax.		* Stamp duty land tax.
	* VAT.		* VAT.

	[[Category:Planning_permission]] [[Category:Property_law]] [[Category:Client_procedures]] [[Category:Contracts_/_payment]] [[Category:Property_development]]		[[Category:Planning_permission]] [[Category:Property_law]] [[Category:Client_procedures]] [[Category:Contracts_/_payment]] [[Category:Property_development]]

Editor at 11:28, 4 July 2018

2018-07-04T11:28:17Z

← Older revision		Revision as of 11:28, 4 July 2018
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−	A disbursement is a type of payment which is made ~~during the conveyancing process in which property ownership is transferred~~ from ~~one party to another. It is~~ a payment that a third party (i.e. a solicitor) makes on behalf of their client for which they are entitled to reimbursement.	+	A disbursement is a type of payment which is made from a bank account or other funds, or a payment that a third party (i.e. a solicitor) makes on behalf of their client for which they are entitled to reimbursement.
		+
		+	The disbursing of money is a part of cash flow which, if negative, indicates that disbursements are higher than revenues. Common examples of disbursements include money paid out for the running of a business, cash expenditures, dividend payments, and payments made by an organisation’s solicitor to third parties for certain fees (e.g. court, medical, courier fees, expert reports, etc.).
		+
		+	During the conveyancing process, disbursement is a type of payment made where property ownership is transferred from one party to another.

	Disbursements are not part of a solicitor’s basic fee, nor are they additional charges for which the solicitor receives a commission; instead they relate to various fees and taxes that must be paid.		Disbursements are not part of a solicitor’s basic fee, nor are they additional charges for which the solicitor receives a commission; instead they relate to various fees and taxes that must be paid.

Designing Buildings at 17:01, 3 July 2018

2018-07-03T17:01:08Z

← Older revision		Revision as of 17:01, 3 July 2018
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−	A disbursement is a type of payment which is made during the conveyancing process ~~whereby~~ property ownership is transferred from one party to another. It is a payment that a third party (i.e. a solicitor) makes on behalf of their client for which they are entitled to reimbursement.	+	A disbursement is a type of payment which is made during the conveyancing process in which property ownership is transferred from one party to another. It is a payment that a third party (i.e. a solicitor) makes on behalf of their client for which they are entitled to reimbursement.

−	Disbursements are not part of a solicitor’s basic fee, nor are they additional charges for which the solicitor receives commission ~~or discount~~; instead ~~their quote will typically include additional items which~~ relate to various fees and taxes that must be paid ~~out~~.	+	Disbursements are not part of a solicitor’s basic fee, nor are they additional charges for which the solicitor receives a commission; instead they relate to various fees and taxes that must be paid.

	The most common disbursements that can apply to property purchases include:		The most common disbursements that can apply to property purchases include:
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	* Stamp duty land tax.		* Stamp duty land tax.
	* Land Registry fees (to register the change of ownership, along with details of any new mortgage on the property).		* Land Registry fees (to register the change of ownership, along with details of any new mortgage on the property).
−	* Official copy entries and filed ~~plan~~.	+	* Official copy entries and filed plans.
−	* Landlord’s registration fee (may be payable to the freeholder for registering details of ownership change).	+	* Landlord’s registration fee (may be payable to the freeholder for registering details of the ownership change).
−	* Search fees ~~(certain legal searches must be made on the property by the solicitor~~. For more information, see Search fees).	+	* Search fees. For more information, see Search fees.

−	~~Disbursements~~ may need to be paid up-front while others will be required when the purchase completion is due. Some of the fees are of fixed amounts and can be given with the original quote, however, others are variable and will be determined by the property purchase price or the particular ~~prices~~ of local ~~councils and~~ authorities.	+	Some disbursements may need to be paid up-front while others will be required when the purchase completion is due. Some of the fees are of fixed amounts and can be given with the original quote, however, others are variable and will be determined by the property purchase price or the particular charging structure of local authorities.

−	If a disbursement is collected by a solicitor but then payment of it is no longer required, it must be returned to the client~~. Cancellation is not usually possible, however, once a particular search has been ordered from the provider~~. If the amount ~~to be~~ paid is lower than that taken by the solicitor as a disbursement, then the balance should be refunded to the client.	+	If a disbursement is collected by a solicitor but then payment of it is no longer required, it must be returned to the client. If the amount actually paid is lower than that taken by the solicitor as a disbursement, then the balance should be refunded to the client.

−	While some clients may wish to handle the conveyancing process themselves, thereby avoiding having to hire a solicitor, in practice it is ~~more~~ convenient to use a solicitor to make such payments. This can be because ~~the organisation required for the search~~ only ~~accepts~~ payments through solicitors and ~~doesn’t~~ directly deal with the public, or the solicitor has an account with a particular organisation. Also, a solicitor is responsible for making sure all relevant payments are made ~~such~~ that the property purchase can go through as easily as possible, and the layperson may not be fully aware of all those payments that are required~~, or might neglect one in error~~.	+	While some clients may wish to handle the conveyancing process themselves, thereby avoiding having to hire a solicitor, in practice it is can be convenient to use a solicitor to make such payments. This can be because some organisations only accept payments through solicitors and do not directly deal with the public, or because the solicitor has an existing account with a particular organisation. Also, a solicitor is responsible for making sure all relevant payments are made sp that the property purchase can go through as easily as possible, and the layperson may not be fully aware of all those payments that are required.

	= Find out more =		= Find out more =

Editor at 15:56, 3 July 2018

2018-07-03T15:56:42Z

← Older revision		Revision as of 15:56, 3 July 2018
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	* Fees.		* Fees.
	* Land Registry.		* Land Registry.
		+	* Payment.
	* Property ownership.		* Property ownership.
	* Property rights.		* Property rights.

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2018-07-03T15:56:25Z

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A disbursement is a type of payment which is made during the conveyancing process whereby property ownership is transferred from one party to another. It is a payment that a third party (i.e. a solicitor) makes on behalf of their client for which they are entitled to reimbursement.

Disbursements are not part of a solicitor’s basic fee, nor are they additional charges for which the solicitor receives commission or discount; instead their quote will typically include additional items which relate to various fees and taxes that must be paid out.

The most common disbursements that can apply to property purchases include:

* Stamp duty land tax.
* Land Registry fees (to register the change of ownership, along with details of any new mortgage on the property).
* Official copy entries and filed plan.
* Landlord’s registration fee (may be payable to the freeholder for registering details of ownership change).
* Search fees (certain legal searches must be made on the property by the solicitor. For more information, see Search fees).

Disbursements may need to be paid up-front while others will be required when the purchase completion is due. Some of the fees are of fixed amounts and can be given with the original quote, however, others are variable and will be determined by the property purchase price or the particular prices of local councils and authorities.

If a disbursement is collected by a solicitor but then payment of it is no longer required, it must be returned to the client. Cancellation is not usually possible, however, once a particular search has been ordered from the provider. If the amount to be paid is lower than that taken by the solicitor as a disbursement, then the balance should be refunded to the client.

While some clients may wish to handle the conveyancing process themselves, thereby avoiding having to hire a solicitor, in practice it is more convenient to use a solicitor to make such payments. This can be because the organisation required for the search only accepts payments through solicitors and doesn’t directly deal with the public, or the solicitor has an account with a particular organisation. Also, a solicitor is responsible for making sure all relevant payments are made such that the property purchase can go through as easily as possible, and the layperson may not be fully aware of all those payments that are required, or might neglect one in error.

= Find out more =

=== Related articles on Designing Buildings Wiki ===

* Avoiding planning permission pitfalls.
* Conveyancing.
* Estate agent.
* Fees.
* Land Registry.
* Property ownership.
* Property rights.
* Stamp duty land tax.
* VAT.

[[Category:Planning_permission]] [[Category:Property_law]] [[Category:Client_procedures]] [[Category:Contracts_/_payment]] [[Category:Property_development]]