Questions and Answers: Easton leasehold conveyancing
I am on look out for some leasehold conveyancing in Easton. Before diving in I want to be sure as to the remaining lease term.
Assuming the lease is registered - and 99.9% are in Easton - then the leasehold title will always include the basic details 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.
There are only 72 years remaining on my lease in Easton. I now wish to extend my lease but my freeholder is can not be found. 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 for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to track down the landlord. On the whole a specialist should be useful to conduct investigations and prepare an expert document which can be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to proving the landlord’s absence and the vesting order request to the County Court covering Easton.
I am a negotiator for a long established estate agent office in Easton where we see a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Easton conveyancing firms. Please can you shed some light as to whether the seller of a flat can start the lease extension process for the buyer?
Provided that 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. The benefit of this is that the buyer need not have 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 before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 advice can you give us when it comes to choosing a Easton conveyancing practice to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Easton conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Easton 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 helpful:
- If the firm is not ALEP accredited then what is the reason?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £350000 flat in Easton next week. The managing agents has quoted £384 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Easton?
Easton conveyancing on leasehold maisonettes usually results in fees being levied by freeholders :
- Answering pre-exchange questions
- Where consent is required before sale in Easton
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Easton Leasehold Conveyancing - Sample of Queries Prior to buying
Does this lease have more than 90 years left?
Who manages the block?
It would be wise to find out as much as you can regarding the company managing the block as they will either make your living at the property much easier or a lot more difficult. Being a leasehold owner you will be in the clutches of the managing agents both financially and when it comes to day to day matters like the upkeep of the common parts. Enquire of other people if they are happy with them. In conclusion, investigate as to the dates that the service fees are due to the managing agents and precisely what it includes.