Recently asked questions relating to Chorley leasehold conveyancing
I am on look out for some leasehold conveyancing in Chorley. Before diving in I require certainty as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Chorley - 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 am hoping to complete next month on a garden flat in Chorley. Conveyancing solicitors assured me that they report fully on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Chorley should include some of the following:
- You should be sent a copy of the lease
I have just started marketing my 2 bed flat in Chorley.Conveyancing has not commenced but I have just received a half-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 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. This will smooth the conveyancing process.
I've recently bought a leasehold property in Chorley. Do I have any liability for service charges relating to a period prior to 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 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).
What are your top tips when it comes to appointing a Chorley conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Chorley conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Chorley conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- If they are not ALEP accredited then what is the reason?
Chorley Conveyancing for Leasehold Flats - Examples of Questions you should ask before buying
Many Chorley leasehold apartments will incur a service bill for maintenance of the block set on behalf of the management company. If you acquire the apartment you will have to meet this contribution, normally periodically during the year. This can vary from two or three hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a ground rent to be met yearly, normally this is not a large amount, say about £25-£75 but you need to enquire it because sometimes it can be many hundreds of pounds.
Who manages the block?
Are any of leasehold owners in dispute over their service charge payments?