Top Five Questions relating to Chalfont St Peter leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Chalfont St Peter. Before I get started I want to be sure as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and almost all are in Chalfont St Peter - then the leasehold title will always include the basic details 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 have recently realised that I have Sixty One years unexpired on my flat in Chalfont St Peter. I need to extend my lease but my landlord is absent. What should I do?
On the basis that you meet the appropriate requirements, 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 lengthened by the Court. However, you will be required to prove that you have used your best endeavours to track down the freeholder. For most situations an enquiry agent may be useful to try and locate and prepare a report to be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s absence and the vesting order request to the County Court covering Chalfont St Peter.
Due to complete next month on a ground floor flat in Chalfont St Peter. Conveyancing solicitors assured me that they report fully next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Chalfont St Peter should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
I am attracted to a two apartments in Chalfont St Peter which have approximately fifty years remaining on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease deteriorate and results in it becoming more expensive to extend the lease. For this reason it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this arena
I am a negotiator for a reputable estate agency in Chalfont St Peter where we have experienced a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Chalfont St Peter conveyancing firms. Could you confirm whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease 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. The benefit of this is that the buyer need not have 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 sale.
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.
Following months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Chalfont St Peter. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to judgment on the amount due.
An example of a Lease Extension case for a Chalfont St Peter residence is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case related to 3 flats. The unexpired term was 71 years.
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