Examples of recent questions relating to leasehold conveyancing in Calstock
My wife and I may need to sub-let our Calstock ground floor flat temporarily due to taking a sabbatical. We used a Calstock conveyancing firm in 2001 but they have since shut and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?
Your lease dictates relations between the landlord and you the flat owner; in particular, it will set out if subletting is banned, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Calstock do not contain strict prohibition on subletting – such a provision would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
I only have Fifty years remaining on my lease in Calstock. I am keen to get lease extension but my landlord is missing. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to locate the lessor. In some cases an enquiry agent may be helpful to conduct investigations and prepare an expert document to be used as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on devolving into the landlord’s absence and the application to the County Court overseeing Calstock.
I today plan to offer on a house that seems to be perfect, at a reasonable price which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Calstock. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Calstock ?
The majority of houses in Calstock are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Calstock in which case you should be looking for a Calstock conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your solicitor should report to you on the legal implications.
I am a negotiator for a busy estate agent office in Calstock where we see a number of flat sales put at risk as a result of short leases. I have received conflicting advice from local Calstock conveyancing solicitors. Can you shed some light as to whether the owner of a flat can start the lease extension process 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 kick-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 at the same time as completion of the sale.
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 buyer.
All being well we will complete the disposal of our £500000 maisonette in Calstock next Tuesday . The landlords agents has quoted £372 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Calstock?
For most leasehold sales in Calstock conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-contract enquiries
- Where consent is required before sale in Calstock
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I invested in buying a split level flat in Calstock, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Equivalent flats in Calstock with a long lease are worth £190,000. The average or mid-range amount of ground rent is £55 levied per year. The lease runs out on 21st October 2094
With only 72 years unexpired we estimate the premium for your lease extension to range between £10,500 and £12,000 plus legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.
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