Sample questions relating to Dalton in Furness leasehold conveyancing
My wife and I may need to sub-let our Dalton in Furness garden flat for a while due to taking a sabbatical. We used a Dalton in Furness conveyancing practice in 2004 but they have since shut and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?
Notwithstanding that your last Dalton in Furness conveyancing lawyer is not available you can check your lease to see if you are permitted to let out the premises. The rule is that if the deeds are silent, subletting is permitted. There may be a precondition that you need to seek consent from your landlord or other appropriate person before subletting. This means you not allowed to sublet without prior permission. The consent must not not be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
Back In 2004, I bought a leasehold flat in Dalton in Furness. Conveyancing and Santander mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Dalton in Furness who previously acted has long since retired.Do I pay?
The first thing you should do is contact the Land Registry to be sure that this person is in fact the new freeholder. There is no need to instruct a Dalton in Furness conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am looking at a two apartments in Dalton in Furness which have in the region of fifty years unexpired on the lease term. Will this present a problem?
There are plenty of short leases in Dalton in Furness. The lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the marketability of the lease deteriorate and it becomes more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this field
I am employed by a long established estate agent office in Dalton in Furness where we see a number of flat sales derailed due to leases having less than 80 years remaining. I have been given conflicting advice from local Dalton in Furness conveyancing solicitors. Can you confirm whether the seller of a flat can initiate the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
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.
All being well we will complete the sale of our £475000 flat in Dalton in Furness in just under a week. The managing agents has quoted £336 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Dalton in Furness?
Dalton in Furness conveyancing on leasehold flats normally requires the buyer’s lawyer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be willing to assist. They are entitled charge a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The management information fee demanded by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, otherwise the charge is technically not due. In reality one has little choice but to pay whatever is demanded should you wish to sell the property.
I am the registered owner of a garden flat in Dalton in Furness, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Dalton in Furness with a long lease are worth £233,000. The ground rent is £55 invoiced annually. The lease ceases on 21st October 2090
With just 67 years remaining on your lease the likely cost is going to range between £15,200 and £17,600 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.