Questions and Answers: Crook leasehold conveyancing
I want to rent out my leasehold flat in Crook. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
A small minority of properties in Crook do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I have recently realised that I have Fifty years unexpired on my flat in Crook. I now want to extend my lease but my landlord is can not be found. What should I do?
If you meet the appropriate requirements, 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 lengthened by the Court. You will be obliged to prove that you or your lawyers have made all reasonable attempts to track down the lessor. For most situations an enquiry agent 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 solicitor both on proving the landlord’s disappearance and the application to the County Court covering Crook.
I work for a busy estate agency in Crook where we have witnessed a number of flat sales derailed due to leases having less than 80 years remaining. I have been given conflicting advice from local Crook conveyancing firms. Can you confirm whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
What are your top tips when it comes to appointing a Crook conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Crook conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Crook conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:
- How experienced is the firm with lease extension legislation?
Do you have any top tips for leasehold conveyancing in Crook from the point of view of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Crook can be reduced if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the buyers lawyers.
- The majority freeholders or managing agents in Crook levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Crook.
I own a basement flat in Crook, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Crook with over 90 years remaining are worth £188,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease runs out on 21st October 2078
With just 56 years left to run the likely cost is going to span between £25,700 and £29,600 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.