Sample questions relating to Grasmere leasehold conveyancing
I am on look out for some leasehold conveyancing in Grasmere. Before diving in I would like to find out the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and almost all are in Grasmere - 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.
Helen (my wife) and I may need to rent out our Grasmere ground floor flat for a while due to a new job. We instructed a Grasmere conveyancing practice in 2004 but they have since shut and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Notwithstanding that your previous Grasmere conveyancing lawyer is no longer around you can check your lease to see if it allows you to sublet the premises. The accepted inference is that if the lease is non-specific, subletting is allowed. There may be a precondition that you are obliged to obtain permission via your landlord or other appropriate person in advance of subletting. This means that you cannot sublet without first obtaining consent. Such consent should not be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
I've found a house that seems to be perfect, at a great figure which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Grasmere. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Grasmere ?
The majority of houses in Grasmere are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Grasmere in which case you should be shopping around for a Grasmere conveyancing practitioner and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor should appraise you on the various issues.
I own a leasehold flat in Grasmere. Conveyancing and Barnsley Building Society mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Grasmere who acted for me is not around.Any advice?
The first thing you should do is make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Grasmere conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I work for a reputable estate agent office in Grasmere where we have experienced a few leasehold sales jeopardised due to short leases. I have been given contradictory information from local Grasmere conveyancing solicitors. Can you confirm whether the vendor of a flat can instigate the lease extension formalities for the buyer?
As long as the seller has been the owner 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 proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord 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.
Leasehold Conveyancing in Grasmere - A selection of Queries before buying
-
Please inform me if there are any major works in the near future that will likely add a premium to the service charges?
Is the freehold owned collectively by the leaseholders?
In the main the cost for major works tend not to be incorporated into the service charges, albeit that a few managing agents in Grasmere ask leaseholders to pay into a reserve fund created for the specific intention of establishing a fund for major repairs or maintenance.
Other Topics