Beaufort leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in Beaufort. Before diving in I require certainty as to the remaining lease term.
If the lease is registered - and almost all are in Beaufort - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Helen (my wife) and I may need to sub-let our Beaufort garden flat temporarily due to taking a sabbatical. We used a Beaufort conveyancing firm in 2002 but they have since shut and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Even though your previous Beaufort conveyancing solicitor is no longer available you can check your lease to see if you are permitted to let out the property. The rule is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek consent via your landlord or some other party before subletting. The net result is that you cannot sublet without prior consent. The consent should not be unreasonably refused ore delayed. If your lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.
Last month I purchased a leasehold property in Beaufort. Am I liable to pay service charges for periods before my ownership?
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. However, 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).
Can you offer any advice when it comes to appointing a Beaufort conveyancing practice to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Beaufort conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Beaufort conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:
- Can they put you in touch with client in Beaufort who can give a testimonial?
- What are the legal fees for lease extension conveyancing?
When it comes to leasehold conveyancing in Beaufort what are the most common lease defects?
Leasehold conveyancing in Beaufort is not unique. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the premises
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
You will encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Chelsea Building Society, and Godiva Mortgages Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.
Leasehold Conveyancing in Beaufort - Examples of Questions you should consider before buying
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For most Beaufort leaseholds the outlay for major works are not built into the maintenance charges, although some managing agents in Beaufort obliged leasehold owners to pay into a reserve fund and this is used to offset against major repairs or maintenance.