Top Five Questions relating to Frinton On Sea leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Frinton On Sea. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
Assuming the lease is registered - and 99.9% are in Frinton On Sea - 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 have recently realised that I have Fifty years unexpired on my flat in Frinton On Sea. I now wish to extend my lease but my landlord is can not be found. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to find the landlord. On the whole an enquiry agent should be helpful to carry out a search and to produce a report which can be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s absence and the vesting order request to the County Court covering Frinton On Sea.
Estate agents have just been given the go-ahead to market my ground floor apartment in Frinton On Sea.Conveyancing lawyers have not yet been instructed but I have just received a quarterly service charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the invoice 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.
Last month I purchased a leasehold flat in Frinton On Sea. Am I liable to pay service charges relating to a period prior to my ownership?
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 ensure 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).
Can you provide any advice for leasehold conveyancing in Frinton On Sea from the perspective of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Frinton On Sea can be reduced where you appoint lawyers as soon as you market your property and ask them to collate the leasehold information needed by the buyers representatives.
- In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Frinton On Sea state that internal structural changes or addition of wooden flooring require a licence from the Landlord acquiescing to such works. Should you fail to have the paperwork in place do not communicate with the landlord without checking with your solicitor in the first instance.
Frinton On Sea Leasehold Conveyancing - Examples of Questions you should ask Prior to buying
Does the lease have onerous restrictions?
It would be sensible to discover as much as possible regarding the company managing the building as they will either make your living at the property much easier or problematic. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to day to day matters like the tidiness of the common parts. Ask other tenants if they are happy with their service. Finally, investigate as to the dates that you are obliged pay the service charge to the relevant party and specifically what you get for your money.
For most Frinton On Sea leaseholds the cost for major works tend not to be built into the maintenance charges, albeit that some managing agents in Frinton On Sea obliged leasehold owners to pay into a reserve fund created for the specific intention of establishing a fund for major works.