Examples of recent questions relating to leasehold conveyancing in Dorchester On Thames
My wife and I may need to sub-let our Dorchester On Thames ground floor flat temporarily due to a career opportunity. We instructed a Dorchester On Thames conveyancing practice in 2002 but they have since shut and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?
Notwithstanding that your previous Dorchester On Thames conveyancing solicitor is no longer around you can review your lease to check if you are permitted to let out the premises. The rule is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you must seek consent via your landlord or other appropriate person in advance of subletting. This means that you cannot sublet without first obtaining consent. Such consent should not be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord for their consent.
I've found a house that seems to be perfect, at a great figure which is making it more attractive. I have subsequently found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Dorchester On Thames. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
Most houses in Dorchester On Thames are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are buying in Dorchester On Thames so you should seriously consider looking for a Dorchester On Thames conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your lawyer should appraise you on the various issues.
I am a negotiator for a reputable estate agency in Dorchester On Thames where we see a few flat sales put at risk as a result of short leases. I have been given conflicting advice from local Dorchester On Thames conveyancing firms. Can you clarify whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner 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. The benefit of this is that the buyer need not have 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 are your top tips when it comes to finding a Dorchester On Thames conveyancing firm to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Dorchester On Thames conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Dorchester On Thames conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:
- How familiar is the practice with lease extension legislation?
If all goes to plan we aim to complete the disposal of our £450000 flat in Dorchester On Thames next Thursday . The freeholder has quoted £300 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Dorchester On Thames?
For the majority of leasehold sales in Dorchester On Thames conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-exchange enquiries
- Where consent is required before sale in Dorchester On Thames
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the registered owner of a 1 bedroom flat in Dorchester On Thames, conveyancing was carried out 4 years ago. How much will my lease extension cost? Corresponding flats in Dorchester On Thames with over 90 years remaining are worth £178,000. The ground rent is £65 invoiced every year. The lease expires on 21st October 2094
With 69 years left to run the likely cost is going to span between £12,400 and £14,200 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. 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 based on this information before getting professional advice.
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