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Top Five Questions relating to Aston Clinton leasehold conveyancing

Looking forward to sign contracts shortly on a basement flat in Aston Clinton. Conveyancing lawyers inform me that they are sending me a report next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in Aston Clinton should include some of the following:

  • You should receive a copy of the lease
  • Setting out your legal entitlements in relation to common areas in the block.For instance, does the lease grant a right of way over a path or staircase?
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether your lease has a provision for a sinking fund?
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Aston Clinton please ask your conveyancer in advance of your conveyancing in Aston Clinton

    • My wife and I purchased a leasehold flat in Aston Clinton. Conveyancing and Bank of Ireland mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Aston Clinton who acted for me is not around.What should I do?

    The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Aston Clinton conveyancing firm to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    Last month I purchased a leasehold property in Aston Clinton. Am I liable to pay service charges for periods before completion of my purchase?

    In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

    If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

    I am employed by a busy estate agency in Aston Clinton where we see a number of flat sales derailed as a result of leases having less than 80 years remaining. I have been given contradictory information from local Aston Clinton conveyancing firms. Can you clarify whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?

    As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

    An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

    What are your top tips when it comes to appointing a Aston Clinton conveyancing firm to carry out our lease extension conveyancing?

    If you are instructing a solicitor for lease extension works (regardless if they are a Aston Clinton conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Aston Clinton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

    • How familiar is the firm with lease extension legislation?
  • If they are not ALEP accredited then what is the reason?

    • Aston Clinton Leasehold Conveyancing - Sample of Questions you should ask before Purchasing

      What prohibitions exist in the Aston Clinton Lease? The best form of lease structure is if the freehold reversion is owned by the leaseholders. In this situation the tenants have being in charge if their destiny and even though a managing agent is often employed where it is larger than a house conversion, the managing agent is directed by the tenants. Is there a share of the freehold?

    Other Topics

    Lease Extensions in Aston Clinton