Sample questions relating to Bishopston leasehold conveyancing
Having checked my lease I have discovered that there are only Seventy years unexpired on my flat in Bishopston. I am keen to extend my lease but my freeholder is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to prove that you have done all that could be expected to locate the freeholder. For most situations an enquiry agent may be helpful to conduct investigations and to produce a report which can be used as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Bishopston.
Expecting to exchange soon on a basement flat in Bishopston. Conveyancing lawyers assured me that they will have a report out to me next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Bishopston should include some of the following:
- Are pets allowed in the flat?
Last month I purchased a leasehold flat in Bishopston. Am I liable to pay service charges relating to a period prior to my ownership?
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. A critical element 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).
I work for a long established estate agent office in Bishopston where we see a few flat sales derailed as a result of leases having less than 80 years remaining. I have received contradictory information from local Bishopston conveyancing solicitors. Please can you confirm whether the vendor of a flat can instigate the lease extension process for the buyer?
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. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
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.
Completion in due on our sale of a £500000 garden flat in Bishopston next week. The management company has quoted £372 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Bishopston?
Bishopston conveyancing on leasehold flats ordinarily necessitates administration charges invoiced by managing agents :
- Answering conveyancing due diligence enquiries
- Where consent is required before sale in Bishopston
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Bishopston Leasehold Conveyancing - Sample of Questions you should consider Prior to buying
Are there any major works in the planning that could increase the maintenance fees?
What prohibitions are contained in the Bishopston Lease?
Does this lease have in excess of 82 years unexpired?