Top Five Questions relating to Dockland Settlement leasehold conveyancing
Having checked my lease I have discovered that there are only 72 years left on my lease in Dockland Settlement. I now wish to get lease extension but my freeholder is absent. What are my options?
If you meet the appropriate requirements, 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 extended by the Court. However, you will be required to demonstrate that you have used your best endeavours to track down the landlord. On the whole a specialist should be useful to carry out a search and prepare a report to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on investigating the landlord’s absence and the application to the County Court overseeing Dockland Settlement.
I’m about to sell my basement flat in Dockland Settlement.Conveyancing has not commenced but I have just had a quarterly service charge invoice – Do I pay up?
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. This will smooth the conveyancing process.
Back In 2008, I bought a leasehold house in Dockland Settlement. Conveyancing and The Mortgage Works mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Dockland Settlement who previously acted has long since retired.Any advice?
The first thing you should do is make enquiries of HMLR to make sure that this person is indeed the new freeholder. You do not need to instruct a Dockland Settlement conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
What are your top tips when it comes to choosing a Dockland Settlement conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Dockland Settlement conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Dockland Settlement conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:
- How familiar is the practice with lease extension legislation?
- What are the legal fees for lease extension conveyancing?
All being well we will complete the disposal of our £ 200000 maisonette in Dockland Settlement in just under a week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Dockland Settlement?
For the majority of leasehold sales in Dockland Settlement conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing pre-contract enquiries
- Where consent is required before sale in Dockland Settlement
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
My wife and I have hit a brick wall in trying to purchase the freehold in Dockland Settlement. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We are happy to put you in touch with a Dockland Settlement conveyancing firm who can help.
An example of a Lease Extension decision for a Dockland Settlement premises is 73 Walerand Road in August 2012. the result of the findings of the Tribunal led to a premium to be paid for the extended lease in respect of Flat 73 in the sum of £10,040. The premium applicable in respect of Flat 85 was £5,710. This case related to 2 flats. The the unexpired term as at the valuation date was 72 years.
I bought a basement flat in Dockland Settlement, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Dockland Settlement with over 90 years remaining are worth £248,000. The average or mid-range amount of ground rent is £45 yearly. The lease expires on 21st October 2084
With just 58 years remaining on your lease we estimate the price of your lease extension to span between £24,700 and £28,600 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues 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.