Frinton On Sea leasehold conveyancing: Q and A’s
I am on look out for some leasehold conveyancing in Frinton On Sea. Before I get started I require certainty as to the number of years remaining on the lease.
Assuming the lease is registered - and most are in Frinton On Sea - 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.
My husband and I may need to let out our Frinton On Sea ground floor flat for a while due to taking a sabbatical. We used a Frinton On Sea conveyancing firm in 2004 but they have closed and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Your lease governs relations between the landlord and you the flat owner; in particular, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Frinton On Sea do not prevent subletting altogether – such a provision would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
I’m about to sell my garden flat in Frinton On Sea.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge demand – what should I do?
The sensible thing to do is clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
My wife and I purchased a leasehold flat in Frinton On Sea. Conveyancing and National Westminster Bank mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Frinton On Sea who previously acted has long since retired.Do I pay?
First make enquiries of the Land Registry to be sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Frinton On Sea conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I've recently bought a leasehold property in Frinton On Sea. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a 2 bed flat in Frinton On Sea, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Frinton On Sea with over 90 years remaining are worth £251,000. The ground rent is £65 charged once a year. The lease expires on 21st October 2094
With just 69 years left to run the likely cost is going to range between £10,500 and £12,000 as well as costs.
The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.
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