Examples of recent questions relating to leasehold conveyancing in Denbigh
I am on look out for some leasehold conveyancing in Denbigh. Before diving in I want to be sure as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Denbigh - then the leasehold title will always include the short particulars 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.
Having checked my lease I have discovered that there are only Fifty years unexpired on my lease in Denbigh. I now wish to get lease extension but my freeholder is missing. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to demonstrate that you have done all that could be expected to track down the lessor. In some cases a specialist would be helpful to conduct investigations and prepare a report to be used as proof that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on devolving into the landlord’s absence and the application to the County Court covering Denbigh.
Expecting to sign contracts shortly on a studio apartment in Denbigh. Conveyancing solicitors have said that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Denbigh should include some of the following:
- You should be sent a copy of the lease
I work for a reputable estate agent office in Denbigh where we have experienced a number of flat sales jeopardised due to short leases. I have been given contradictory information from local Denbigh conveyancing firms. Can you confirm whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence 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 to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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.
All being well we will complete the disposal of our £500000 apartment in Denbigh in 5 days. The management company has quoted £300 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Denbigh?
Denbigh conveyancing on leasehold maisonettes nine out of ten times necessitates administration charges invoiced by landlords agents :
- Addressing pre-contract enquiries
- Where consent is required before sale in Denbigh
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I acquired a studio flat in Denbigh, conveyancing having been completed in 2011. How much will my lease extension cost? Corresponding flats in Denbigh with an extended lease are worth £168,000. The ground rent is £65 invoiced every year. The lease expires on 21st October 2074
You have 53 years remaining on your lease the likely cost is going to range between £30,400 and £35,200 as well as legals.
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 comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.