Frequently asked questions relating to Edgwarebury leasehold conveyancing
I am in need of some leasehold conveyancing in Edgwarebury. Before I get started I want to be sure as to the unexpired term of the lease.
If the lease is registered - and almost all are in Edgwarebury - 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.
I want to sublet my leasehold flat in Edgwarebury. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Your lease dictates relations between the freeholder and you the leaseholder; specifically, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Edgwarebury do not contain strict prohibition on subletting – such a provision would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
There are only Sixty One years left on my lease in Edgwarebury. I now wish to extend my lease but my landlord is absent. What options are available to me?
On the basis that you meet the appropriate requirements, 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 granted an extra 90 years by the magistrate. However, you will be required to prove that you have made all reasonable attempts to locate the freeholder. For most situations a specialist would be helpful to carry out a search and to produce a report which can be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Edgwarebury.
I am hoping to complete next month on a leasehold property in Edgwarebury. Conveyancing lawyers have said that they are sending me a report tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Edgwarebury should include some of the following:
- Do you need to have carpet in the flat or are you allowed wood flooring?
I am a negotiator for a reputable estate agency in Edgwarebury where we see a few leasehold sales put at risk due to short leases. I have received conflicting advice from local Edgwarebury conveyancing firms. Please can you clarify whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease 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 prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is 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.
Having spent months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Edgwarebury. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We can put you in touch with a Edgwarebury conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Edgwarebury premises is 42 Churchill Road in March 2013. The Tribunal determined that the price payable in respect of the acquisition of the freehold of the property as required under the terms of the Court Order dated 21 December 2012, is£26,958 This case related to 1 flat.
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