Questions and Answers: Brampton leasehold conveyancing
I am on look out for some leasehold conveyancing in Brampton. Before I set the wheels in motion I require certainty as to the remaining lease term.
If the lease is registered - and almost all are in Brampton - 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.
Planning to sign contracts shortly on a basement flat in Brampton. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Brampton should include some of the following:
- How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
I’m about to sell my garden apartment in Brampton.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is discharge 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 management companies 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.
My wife and I purchased a leasehold flat in Brampton. Conveyancing and Nationwide Building Society mortgage organised. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Brampton who acted for me is not around.Any advice?
First contact HMLR to make sure that this person is in fact the new freeholder. There is no need to instruct a Brampton conveyancing practitioner to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am a negotiator for a busy estate agent office in Brampton where we see a few flat sales derailed due to leases having less than 80 years remaining. I have received conflicting advice from local Brampton conveyancing firms. Could you confirm whether the seller of a flat can start 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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.
Brampton Leasehold Conveyancing - Examples of Questions you should ask before Purchasing
Is the freehold owned jointly by the tenants?
This question is helpful as a) areas could result in problems in the building as the common areas may begin to deteriorate if maintenance are not paid for b) if the leaseholders have an issue with the managing agents you will want to know about it
Please inform me if there are any major works anticipated that will add a premium to the maintenance fees?