Common questions relating to Deeside leasehold conveyancing
My partner and I may need to let out our Deeside garden flat temporarily due to a career opportunity. We instructed a Deeside conveyancing firm in 2003 but they have since shut and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?
The lease governs the relationship between the freeholder and you the leaseholder; in particular, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Deeside do not contain subletting altogether – such a provision would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
Planning to complete next month on a basement flat in Deeside. Conveyancing lawyers assured me that they are sending me a report next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Deeside should include some of the following:
- You should receive a copy of the lease
My wife and I purchased a leasehold house in Deeside. Conveyancing and TSB mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Deeside who acted for me is not around.Do I pay?
The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Deeside conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that in any event, 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 employed by a busy estate agency in Deeside where we see a few flat sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local Deeside conveyancing firms. Could you clarify whether the seller of a flat can commence the lease extension formalities for the buyer?
Provided that the seller has been the owner 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 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 needs to be completed 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.
In relation to leasehold conveyancing in Deeside what are the most frequent lease problems?
There is nothing unique about leasehold conveyancing in Deeside. All leases is drafted differently and drafting errors can result in certain clauses are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the building
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Chelsea Building Society, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.
Deeside Leasehold Conveyancing - A selection of Questions you should ask before Purchasing
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What is the length of the lease?
For most Deeside leaseholds the outlay for major works tend not to be included within maintenance charges, albeit that there some managing agents in Deeside require leaseholders to pay into a sinking fund and this is used to offset against larger works.
Its a good idea to find out as much as possible regarding the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to practical issues such as the upkeep of the common parts. Ask other tenants what they think of their service. On a final note, investigate as to the dates that the service fees are due to the relevant party and specifically what it includes.
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