Examples of recent questions relating to leasehold conveyancing in Denham
Expecting to sign contracts shortly on a leasehold property in Denham. Conveyancing solicitors inform me that they report fully tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Denham should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
I have just started marketing my garden flat in Denham.Conveyancing has not commenced but I have just received a half-yearly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should 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.
I am employed by a long established estate agency in Denham where we have witnessed a few leasehold sales derailed due to short leases. I have been given inconsistent advice from local Denham conveyancing firms. Can you confirm whether the owner of a flat can start 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. 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 at the same time as completion of the sale.
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.
What advice can you give us when it comes to choosing a Denham conveyancing practice to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Denham conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Denham conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:
- How many lease extensions has the firm conducted in Denham in the last 12 months?
Do you have any top tips for leasehold conveyancing in Denham from the perspective of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Denham can be avoided if you get in touch lawyers the minute you market your property and request that they start to put together the leasehold information needed by the buyers representatives.
- The majority freeholders or Management Companies in Denham charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Denham.
Having spent months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Denham. Can we issue an application to the Residential Property Tribunal Service?
Absolutely. We can put you in touch with a Denham conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Denham premises is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case was in relation to 3 flats. The unexpired term was 71 years.