Common questions relating to Billericay leasehold conveyancing
I am on look out for some leasehold conveyancing in Billericay. Before I get started I want to be sure as to the unexpired term of the lease.
If the lease is registered - and 99.9% are in Billericay - then the leasehold title will always include the basic details 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.
Looking forward to sign contracts shortly on a garden flat in Billericay. Conveyancing lawyers assured me that they report fully on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Billericay should include some of the following:
- You should receive a copy of the lease
I have just started marketing my ground floor apartment in Billericay.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge demand – Do I pay up?
The sensible thing to do is clear the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I own a leasehold house in Billericay. Conveyancing and Barnsley Building Society 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 1995. The conveyancing solicitor in Billericay who acted for me is not around.Any advice?
First contact HMLR to be sure that this person is indeed the new freeholder. There is no need to instruct a Billericay conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I've recently bought a leasehold house in Billericay. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee 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 be sure 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).
Billericay Leasehold Conveyancing - Sample of Queries Prior to buying
The best form of lease structure is if the freehold interest is owned by the leaseholders. In this arrangement the leaseholders enjoy being in charge if their destiny and even though a managing agent is often retained if the building is bigger than a house conversion, the managing agent employed by the leaseholders.
How long is the Lease?
Be sure to find out if there is anything that is prohibited in the lease. For instance some leases prohibit pets being permitted in certain buildings in Billericay. If you like the apartmentin Billericay but your cat can’t make the move with you then you will be presented with a hard determination.