Expecting to complete next month on a studio apartment in Dorchester. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Dorchester should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord

I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Dorchester. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Dorchester ?

The majority of houses in Dorchester are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Dorchester in which case you should be looking for a Dorchester conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the property is located on an estate. Your solicitor should advise you fully on all the issues.

Back In 2001, I bought a leasehold flat in Dorchester. Conveyancing and The Royal Bank of Scotland mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Dorchester who previously acted has now retired.Do I pay?

The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Dorchester conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am a negotiator for a reputable estate agency in Dorchester where we have witnessed a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received contradictory information from local Dorchester conveyancing firms. Please can you clarify whether the seller of a flat can commence the lease extension process 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 start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

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.

In relation to leasehold conveyancing in Dorchester what are the most common lease defects?

Leasehold conveyancing in Dorchester is not unique. Most leases is drafted differently and drafting errors can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the building
• Insurance obligations
• 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 may encounter 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. Birmingham Midshires, The Mortgage Works, and Clydesdale all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.

Leasehold Conveyancing in Dorchester - Examples of Questions you should ask Prior to Purchasing

The best form of lease arrangement is a share of the freehold. In this arrangement the leaseholders have control and notwithstanding that a managing agent is frequently employed if it is larger than a house conversion, the managing agent is directed by the tenants. Are there any major works in the planning that will add a premium to the maintenance charges? In the main the outlay for major works tend not to be included within maintenance charges, although some managing agents in Dorchester require leaseholders to contribute towards a sinking fund created for the specific intention of establishing a fund for major repairs or maintenance.

Other Topics

Lease Extensions in Dorchester