Chellaston leasehold conveyancing Example Support Desk Enquiries
I would like to let out my leasehold apartment in Chellaston. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
The lease dictates the relationship between the freeholder and you the leaseholder; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Chellaston do not contain strict prohibition on subletting – such a provision would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
Looking forward to sign contracts shortly on a garden flat in Chellaston. Conveyancing solicitors have said that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Chellaston should include some of the following:
- You should be sent a copy of the lease
I have just started marketing my ground floor apartment in Chellaston.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge demand – Do I pay up?
The sensible thing to do is pay 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 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 am employed by a busy estate agency in Chellaston where we have experienced a few flat sales derailed as a result of short leases. I have been given inconsistent advice from local Chellaston conveyancing solicitors. Can 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 commence 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 wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
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 buyer.
If all goes to plan we aim to complete the disposal of our £375000 garden flat in Chellaston in just under a week. The landlords agents has quoted £408 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Chellaston?
Chellaston conveyancing on leasehold flats normally requires the buyer’s conveyancer sending questions for the landlord to answer. Although the landlord is not legally bound to answer such questions most will be content to assist. They are entitled levy a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee required by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, otherwise the invoice is not strictly payable. In reality one has little choice but to pay whatever is demanded if you want to exchange contracts with the buyer.
I am the registered owner of a 1st floor flat in Chellaston, conveyancing formalities finalised 2001. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Chellaston with over 90 years remaining are worth £192,000. The average or mid-range amount of ground rent is £60 per annum. The lease ends on 21st October 2091
You have 67 years unexpired the likely cost is going to be between £14,300 and £16,400 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.