I am in need of some leasehold conveyancing in Callerton. Before I get started I require certainty as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and most are in Callerton - 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.

I today plan to offer on a house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Callerton. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Callerton ?

Most houses in Callerton are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Callerton in which case you should be looking for a Callerton conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer will appraise you on the various issues.

My wife and I purchased a leasehold house in Callerton. Conveyancing and Godiva Mortgages Ltd mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Callerton who previously acted has now retired.What should I do?

First contact the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Callerton conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Last month I purchased a leasehold property in Callerton. 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 lessee 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. 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).

I work for a long established estate agency in Callerton where we see a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local Callerton conveyancing firms. Please can you clarify whether the vendor of a flat can start the lease extension formalities for the buyer?

Provided that the seller has been the owner 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 needs to be completed prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible 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.

Callerton Leasehold Conveyancing - Examples of Questions you should consider Prior to buying

On the whole the cost for major works tend not to be built into the service charges, albeit that a few managing agents in Callerton obliged tenants to contribute towards a sinking fund created for the specific purpose of establishing a fund for major repairs or maintenance. Its a good idea to find out as much as you can regarding the managing agents as they can either make living at the property much simpler or much more difficult. Being a leasehold owner you will be in the clutches of the managing agents both financially and when it comes to day to day issues like the cleanliness of the communal areas. Ask other tenants what they think of their management. In conclusion, find out the dates that you are obliged pay the service charge to the managing agents and specifically what you get for your money. How long is the Lease?

Other Topics

Lease Extensions in Callerton