Recently asked questions relating to Gunnislake leasehold conveyancing
I am in need of some leasehold conveyancing in Gunnislake. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
If the lease is recorded at the land registry - and most are in Gunnislake - 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 only have 68 years remaining on my flat in Gunnislake. I now want to extend my lease but my freeholder is missing. What options are available to me?
If you meet the appropriate requirements, 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 lessor. In some cases an enquiry agent should be useful to try and locate and prepare an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on investigating the landlord’s disappearance and the application to the County Court overseeing Gunnislake.
Estate agents have just been given the go-ahead to market my 2 bed apartment in Gunnislake.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge demand – Do I pay up?
The sensible thing to do is discharge 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 Gunnislake. Conveyancing and Clydesdale mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Gunnislake who previously acted has long since retired.Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Gunnislake conveyancing practitioner to do this as it can be done on-line for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Last month I purchased a leasehold flat in Gunnislake. Do I have any liability for service charges relating to a period prior to completion of my purchase?
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. 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).
Gunnislake Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying
Generally speaking the cost for major works tend not to be included within maintenance charges, albeit that there some managing agents in Gunnislake require tenants to pay into a sinking fund and this is used to offset against larger works.
Where a Gunnislake lease has no more than 80 years it will impact the salability of the property. Check with your lender that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease at some point and you need to have some idea of what this will be. Remember, in most cases you would be be obliged to have been the owner of the premises for two years before you are entitled to exercise a lease extension.
Make sure you investigate if the the lease includes any adverse restrictions in the lease. For example plenty of leases prohibit pets being permitted in in a block in Gunnislake. If you love the apartmentin Gunnislake however your dog is not allowed to move with you then you will be faced hard compromise.