Top Five Questions relating to Denton leasehold conveyancing
I am on look out for some leasehold conveyancing in Denton. Before I get started I would like to find out the remaining lease term.
Assuming the lease is registered - and almost all are in Denton - 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.
I have just started marketing my ground floor flat in Denton.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should clear 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 until 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. This will smooth the conveyancing process.
Last month I purchased a leasehold house in Denton. Am I liable to pay service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).
I work for a reputable estate agent office in Denton where we see a few flat sales derailed as a result of leases having less than 80 years remaining. I have been given contradictory information from local Denton conveyancing solicitors. Could you clarify whether the owner of a flat can commence 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 buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with 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.
Can you offer any advice when it comes to choosing a Denton conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Denton conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Denton conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- How many lease extensions has the firm carried out in Denton in the last 12 months?
Denton Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
This information is helpful as a) areas could result in problems in the building as the common areas may start to deteriorate where services are not paid for b) if the tenants have a dispute with the managing agents you will wish to have all the details
Make sure you investigate if the the lease includes any adverse restrictions in the lease. For example it is reasonably common in Denton leases that pets are not permitted in certain buildings in Denton. If you like the apartmentin Denton but your dog is not allowed to live with you then you have a very difficult determination.
Can you inform me if there are any major works anticipated that could increase the maintenance charges?