Examples of recent questions relating to leasehold conveyancing in Carmarthen
I am on look out for some leasehold conveyancing in Carmarthen. Before I get started I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and most are in Carmarthen - 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.
There are only 62 years remaining on my flat in Carmarthen. I am keen to extend my lease but my landlord is can not be found. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to find the lessor. On the whole an enquiry agent would be helpful to carry out a search and to produce a report to be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a property lawyer in relation to proving the landlord’s absence and the application to the County Court overseeing Carmarthen.
I have just started marketing my 2 bed flat in Carmarthen.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should clear the service charge 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 managing agents will not acknowledge the buyer until 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.
I've found a house that appears to be perfect, at a reasonable price which is making it more attractive. I have subsequently been informed that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Carmarthen. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Carmarthen ?
Most houses in Carmarthen are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Carmarthen in which case you should be shopping around for a Carmarthen conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your lawyer should appraise you on the various issues.
I've recently bought a leasehold house in Carmarthen. Am I liable to pay service charges for periods before completion of my purchase?
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 ensure 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).
Carmarthen Leasehold Conveyancing - A selection of Questions you should consider Prior to buying
The prefered form of lease arrangement is where the freehold interest is owned by the leaseholders. In this arrangement the leaseholders enjoy control and even though a managing agent is usually retained if it is larger than a house conversion, the managing agent is directed by the tenants.
How many of the leaseholders are in arrears for their service charge payments?
Where a Carmarthen lease has less than eighty years it will have adverse implications on the salability of the property. Check with your lender that they are content with the length of the lease. A short lease means that you will probably have to extend the lease at some point and you need to have some idea of what this would cost. For most Carmarthenlease extensions you would need to own the premises for two years before you are entitled to extend the lease.