Earley leasehold conveyancing: Q and A’s
I am on look out for some leasehold conveyancing in Earley. Before diving in I want to be sure as to the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in Earley - 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 only have 68 years left on my flat in Earley. I now wish to get lease extension but my freeholder is absent. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order 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 or your lawyers have used your best endeavours to find the landlord. In some cases a specialist should be helpful to carry out a search and prepare an expert document which can be used as proof that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s absence and the application to the County Court overseeing Earley.
Expecting to complete next month on a leasehold property in Earley. Conveyancing solicitors inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Earley 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've found a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have since been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Earley. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
Most houses in Earley are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Earley in which case you should be looking for a Earley conveyancing practitioner and be sure that they have experience in dealing with 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 will likely included provisions for example obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your solicitor should report to you on the legal implications.
My wife and I purchased a leasehold house in Earley. Conveyancing and Britannia mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Earley who previously acted has now retired.What should I do?
First make enquiries of the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Earley conveyancing practitioner 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 legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Earley Leasehold Conveyancing - A selection of Questions you should ask Prior to Purchasing
Where a Earley lease has less than eighty years it will have adverse implications on the marketability of the flat. It is worth checking with your bank that they are willing to go ahead with the loan given the lease term. A short lease means that you will probably have to extend the lease at some point and it is worth discovering what this would cost. Remember, in most cases you will be required to have been the owner of the property for 24 months in order to be eligible to extend the lease.
The answer will be useful as a) areas could result in problems in the building as the communal areas may begin to deteriorate if maintenance are not paid for b) if the leaseholders have an issue with the running of the building you will want to have complete disclosure
How many of the leaseholders are in arrears for their maintenance charge payments?