Having had my offer accepted I require leasehold conveyancing in Gunnislake. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and most are in Gunnislake - 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.

Planning to complete next month on a garden flat in Gunnislake. Conveyancing lawyers assured me that they report fully next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in Gunnislake should include some of the following:

• Whether the lease restricts you from renting out the property, or having a home office for business

I’m about to sell my basement flat in Gunnislake.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should clear 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.

I've found a house that seems to tick a lot of boxes, at a great figure which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Gunnislake. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

The majority of houses in Gunnislake are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Gunnislake so you should seriously consider shopping around for a Gunnislake conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor will advise you fully on all the issues.

Last month I purchased a leasehold flat in Gunnislake. 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).

Gunnislake Leasehold Conveyancing - Examples of Queries Prior to buying

This question is useful as a) areas may cause problems for the block as the common areas may begin to deteriorate where maintenance are not paid for b) if the leasehold owners have an issue with the managing agents you will want to have complete disclosure Who takes charge for maintaining and repairing the building? What is the maintenance charge and ground rent on the flat?

Other Topics

Lease Extensions in Gunnislake