Common questions relating to Flamborough leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Flamborough. Before diving in I want to be sure as to the unexpired term of the lease.
If the lease is registered - and most are in Flamborough - 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 am hoping to complete next month on a garden flat in Flamborough. Conveyancing lawyers have said that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Flamborough should include some of the following:
- You should be sent a copy of the lease
Back In 2005, I bought a leasehold house in Flamborough. Conveyancing and Bank of Scotland mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Flamborough who acted for me is not around.What should I do?
First make enquiries of HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Flamborough 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 rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am employed by a long established estate agent office in Flamborough where we have witnessed a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Flamborough conveyancing firms. Can you shed some light as to whether the owner of a flat can initiate the lease extension process for the buyer?
As long as 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 prior to, or simultaneously with 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 purchaser.
What advice can you give us when it comes to appointing a Flamborough conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Flamborough conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Flamborough conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- Can they put you in touch with client in Flamborough who can give a testimonial?
Leasehold Conveyancing in Flamborough - Examples of Questions you should ask before buying
The answer will be useful as a) areas could result in problems in the building as the common areas may start to deteriorate if services remain unpaid b) if the leasehold owners have a dispute with the running of the building you will want to know about it
How many of the leaseholders are in arrears for their maintenance charge payments?
The prefered form of lease arrangement is a share of the freehold. In this scenario the leaseholders have control and although a managing agent is often employed where the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves.