Frequently asked questions relating to Croxley Green leasehold conveyancing
I am on look out for some leasehold conveyancing in Croxley Green. Before I get started I would like to find out the number of years remaining on the lease.
If the lease is registered - and most are in Croxley Green - 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.
Estate agents have just been given the go-ahead to market my ground floor apartment in Croxley Green.Conveyancing is yet to be initiated but I have just received a yearly service charge invoice – Do I pay up?
The sensible thing to do is 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 management companies will not acknowledge the buyer unless 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 hoping to put an offer on a small detached house that appears to be perfect, at a reasonable price which is making it more attractive. I have just been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Croxley Green. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
Most houses in Croxley Green are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Croxley Green so you should seriously consider looking for a Croxley Green conveyancing practitioner and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your lawyer should appraise you on the various issues.
Last month I purchased a leasehold property in Croxley Green. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner 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. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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).
Completion in due on our sale of a £425000 apartment in Croxley Green on Thursday in a week. The landlords agents has quoted £312 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Croxley Green?
Croxley Green conveyancing on leasehold maisonettes ordinarily involves administration charges raised by managing agents :
- Answering conveyancing due diligence enquiries
- Where consent is required before sale in Croxley Green
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have given up trying to reach an agreement for a lease extension in Croxley Green. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to arrive at the price payable.
An example of a Lease Extension matter before the tribunal for a Croxley Green flat 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 remaining number of years on the lease was 71 years.
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