Recently asked questions relating to Harrold leasehold conveyancing
Having checked my lease I have discovered that there are only Sixty One years left on my flat in Harrold. I am keen to extend my lease but my freeholder is can not be found. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application 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 have made all reasonable attempts to find the freeholder. For most situations an enquiry agent may be helpful to carry out a search and to produce an expert document to be used as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the application to the County Court covering Harrold.
I am hoping to complete next month on a ground floor flat in Harrold. Conveyancing solicitors assured me that they will have a report out to me within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Harrold should include some of the following:
- The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
Estate agents have just been given the go-ahead to market my ground floor apartment in Harrold.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should discharge 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 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.
I've recently bought a leasehold property in Harrold. 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. 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).
I work for a long established estate agency in Harrold where we have witnessed a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have received contradictory information from local Harrold conveyancing solicitors. Can you clarify whether the vendor of a flat can instigate the lease extension formalities for the buyer?
Provided that 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 disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.
Harrold Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing
In the main the outlay for major works tend not to be included within maintenance charges, albeit that there some managing agents in Harrold obliged tenants to contribute towards a sinking fund created for the specific intention of establishing a fund for major works.
This information is useful as a) areas can cause problems in the block as the communal areas may start to deteriorate where services are not paid for b) if the tenants have a dispute with the running of the building you will wish to have all the details
Its a good idea to find out as much as possible concerning the company managing the building as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to daily matters like the upkeep of the common parts. Don't be shy to ask other tenants what they think of their management. On a final note, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and specifically what you get for your money.