Common questions relating to Dartmouth leasehold conveyancing
I’m about to sell my basement apartment in Dartmouth.Conveyancing has not commenced but I have just received a quarterly maintenance charge demand – should I leave it to the buyer to sort out?
It best that you pay 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.
Back In 2002, I bought a leasehold flat in Dartmouth. Conveyancing and Aldermore mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Dartmouth who previously acted has long since retired.What should I do?
First make enquiries of HMLR to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Dartmouth conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Last month I purchased a leasehold house in Dartmouth. Do I have any liability for service charges relating to a period prior to my ownership?
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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element 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).
What are your top tips when it comes to choosing a Dartmouth conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Dartmouth conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Dartmouth conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- If the firm is not ALEP accredited then what is the reason?
- What are the legal fees for lease extension conveyancing?
Can you provide any top tips for leasehold conveyancing in Dartmouth from the point of view of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Dartmouth can be reduced where you instruct lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation needed by the purchasers’ conveyancers.
- If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Dartmouth leases often stipulate that internal structural changes or installing wooden flooring require a licence issued by the Landlord approving such changes. Should you dont have the paperwork in place you should not contact the landlord without checking with your solicitor in advance.
- Some Dartmouth leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
- If you hold a share in a the Management Company, you should make sure that you are holding the original share certificate. Organising a re-issued share certificate is often a time consuming process and delays many a Dartmouth conveyancing transaction. If a duplicate share is needed, do contact the company director and secretary or managing agents (where applicable) for this sooner rather than later.
- You believe that you know the number of years left on your lease but it would be wise to verify this via your conveyancers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.
Dartmouth Conveyancing for Leasehold Flats - Sample of Questions you should consider before Purchasing
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How many years are left on the lease?
Is anyone aware of any major works in the planning that will add a premium to the maintenance fees?