Questions and Answers: Danbury leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Danbury. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
If the lease is recorded at the land registry - and most are in Danbury - 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.
Looking forward to exchange soon on a studio apartment in Danbury. Conveyancing lawyers inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Danbury should include some of the following:
- Setting out your rights in respect of the communal areas in the block.E.G., does the lease contain a right of way over a path or hallways?
I today plan to offer on a house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Danbury. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Danbury ?
Most houses in Danbury are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Danbury so you should seriously consider looking for a Danbury conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your lawyer will appraise you on the various issues.
I work for a busy estate agency in Danbury where we see a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have received contradictory information from local Danbury conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can start 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 can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
An alternative approach is 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 buyer.
Can you offer any advice when it comes to choosing a Danbury conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Danbury conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Danbury conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- How familiar is the firm with lease extension legislation?
Danbury Conveyancing for Leasehold Flats - Sample of Queries before buying
What restrictions are there in the Danbury Lease?
How many of the leaseholders are in arrears for their service charge payments?
What is the annual service fee and ground rent?