Questions and Answers: Danescourt leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Danescourt. Before I get started I would like to find out the unexpired term of the lease.
If the lease is registered - and 99.9% are in Danescourt - 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.
My wife and I may need to let out our Danescourt basement flat temporarily due to a new job. We instructed a Danescourt conveyancing firm in 2002 but they have since shut and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?
Even though your last Danescourt conveyancing solicitor is no longer around you can review your lease to see if it allows you to sublet the property. The accepted inference is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you need to seek permission via your landlord or other appropriate person prior to subletting. The net result is that you cannot sublet in the absence of first obtaining permission. Such consent should not be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
I am employed by a long established estate agency in Danescourt where we see a number of flat sales put at risk due to short leases. I have been given contradictory information from local Danescourt conveyancing firms. Please can you clarify whether the owner of a flat can commence the lease extension process for the buyer?
Provided that 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. The benefit of this is that the buyer 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 before, 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 buyer.
What advice can you give us when it comes to appointing a Danescourt conveyancing practice to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Danescourt conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Danescourt conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:
- What volume of lease extensions has the firm completed in Danescourt in the last 12 months?
Do you have any advice for leasehold conveyancing in Danescourt from the perspective of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Danescourt can be avoided if you get in touch lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ solicitors.
- The majority freeholders or managing agents in Danescourt levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Danescourt.
Danescourt Leasehold Conveyancing - Examples of Queries Prior to Purchasing
This information is useful as a) areas may cause problems in the block as the communal areas may start to deteriorate if maintenance remain unpaid b) if the tenants have an issue with the managing agents you will need to have all the details
Where a Danescourt lease has no more than 80 years it will affect the salability of the flat. Check with your bank that they are willing to go ahead with the loan given the lease term. Leases with fewer than 80 years remaining means that you will probably have to extend the lease at some point and it is worth finding out how much this will be. Remember, in most cases you would need to own the residence for two years in order to be eligible to extend the lease.
Best to be warned whether fixing the lift or some other significant cost is due shortly to be shared amongst the leasehold owners and could well dramatically increase the the service charges or require a specific invoice.