I am on look out for some leasehold conveyancing in Cotgrave. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.

If the lease is recorded at the land registry - and most are in Cotgrave - 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 want to sublet my leasehold apartment in Cotgrave. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Notwithstanding that your previous Cotgrave conveyancing solicitor is no longer available you can review your lease to see if it allows you to sublet the property. The rule is that if the deeds are silent, subletting is permitted. There may be a precondition that you are obliged to obtain permission from your landlord or some other party in advance of subletting. This means that you cannot sublet in the absence of first obtaining consent. The consent should not be unreasonably turned down. If the lease prohibits you from subletting the property you should ask your landlord for their consent.

There are only 68 years remaining on my flat in Cotgrave. I now want to get lease extension but my freeholder is can not be found. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application 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 have made all reasonable attempts to find the lessor. In some cases a specialist should be useful to conduct investigations and to produce an expert document to be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Cotgrave.

I am tempted by the attractive purchase price for a two apartments in Cotgrave both have about forty five years remaining on the leases. Do I need to be concerned?

There are plenty of short leases in Cotgrave. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the saleability of the lease reduces and results in it becoming more expensive to extend the lease. For this reason it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this area

Last month I purchased a leasehold house in Cotgrave. Am I liable to pay service charges for periods before completion of my purchase?

In a situation 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. However, your landlord may still be able to take action to forfeit the lease. A critical element 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).

Leasehold Conveyancing in Cotgrave - A selection of Queries before buying

The prefered form of lease arrangement is a share of the freehold. In this situation the leaseholders have being in charge if their destiny and notwithstanding that a managing agent is often employed where it is larger than a house conversion, the managing agent acts for the leaseholders themselves. Make sure you find out if there are any onerous prohibitions in the lease. For example it is fairly common in Cotgrave leases that pets are not permitted in certain buildings in Cotgrave. If you love the propertyin Cotgrave but your cat can’t live with you then you will be presented with a hard compromise. Are there any major works on the horizon that could increase the maintenance costs?

Other Topics

Lease Extensions in Cotgrave