Questions and Answers: Bovey Tracey leasehold conveyancing
I am in need of some leasehold conveyancing in Bovey Tracey. Before I get started I require certainty as to the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in Bovey Tracey - 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.
Jane (my partner) and I may need to rent out our Bovey Tracey ground floor flat temporarily due to a new job. We instructed a Bovey Tracey conveyancing firm in 2003 but they have since shut and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?
Even though your last Bovey Tracey conveyancing lawyer is not available you can check your lease to check if it allows you to sublet the apartment. The accepted inference is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you are obliged to obtain permission via your landlord or other appropriate person in advance of subletting. The net result is you not allowed to sublet in the absence of prior permission. Such consent must not not be unreasonably withheld. If the lease does not allow you to sublet you should ask your landlord for their consent.
Having checked my lease I have discovered that there are only 62 years left on my lease in Bovey Tracey. I now wish to get lease extension but my landlord is absent. What options are available to me?
If 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 mean that your lease can be lengthened by the Court. However, you will be required to demonstrate that you have done all that could be expected to find the landlord. For most situations a specialist may be helpful to try and locate and prepare a report which can be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court covering Bovey Tracey.
I am hoping to complete next month on a basement flat in Bovey Tracey. Conveyancing solicitors have said 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 Bovey Tracey should include some of the following:
- The total extent of the property. This will be the flat itself but may include a roof space or cellar if applicable.
What advice can you give us when it comes to appointing a Bovey Tracey conveyancing practice to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Bovey Tracey conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Bovey Tracey conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- How many lease extensions have they completed in Bovey Tracey in the last year?
I acquired a garden flat in Bovey Tracey, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Bovey Tracey with a long lease are worth £243,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease ends on 21st October 2074
With just 54 years unexpired we estimate the premium for your lease extension to range between £32,300 and £37,400 plus professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.