Questions and Answers: Hastings leasehold conveyancing
I am in need of some leasehold conveyancing in Hastings. 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 Hastings - 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 just appointed agents to market my 2 bed flat in Hastings.Conveyancing has not commenced but I have just received a quarterly maintenance charge demand – Do I pay up?
The sensible thing to do is 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 until 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.
Back In 2006, I bought a leasehold house in Hastings. Conveyancing and Aldermore 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 1991. The conveyancing solicitor in Hastings who previously acted has long since retired.Do I pay?
The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Hastings conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I work for a busy estate agency in Hastings where we have witnessed a number of flat sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Hastings conveyancing solicitors. Can you confirm whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
An alternative approach is 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 purchaser.
Can you provide any top tips for leasehold conveyancing in Hastings with the purpose of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Hastings can be reduced where you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers.
- The majority landlords or managing agents in Hastings levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Hastings.
- A minority of Hastings leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers.
- If you have had conflict with your landlord or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be nervous about purchasing a property where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic as opposed to ongoing.
- If you are supposed to have a share in the Management Company, you should ensure that you hold the original share certificate. Organising a re-issued share certificate can be a time consuming formality and slows down many a Hastings home move. If a new share certificate is necessary, you should approach the company director and secretary or managing agents (where relevant) for this sooner rather than later.
Leasehold Conveyancing in Hastings - A selection of Queries Prior to buying
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What is the name of the managing agents?
How long is the Lease?
The answer will be useful as a) areas could cause problems in the block as the communal areas may begin to deteriorate where services are not paid for b) if the leasehold owners have a dispute with the running of the building you will wish to have all the details