Top Five Questions relating to Heathfield leasehold conveyancing
There are only Seventy years left on my lease in Heathfield. I now want to get lease extension but my freeholder is can not be found. What options are available to me?
If you qualify, 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 mean that your lease can be extended by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to find the landlord. In some cases a specialist should be useful to carry out a search and to produce an expert document to be used as evidence that the landlord can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court covering Heathfield.
I am hoping to exchange soon on a leasehold property in Heathfield. Conveyancing solicitors inform me that they are sending me a report next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Heathfield 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
I own a leasehold flat in Heathfield. Conveyancing and Barclays Direct mortgage organised. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Heathfield who previously acted has long since retired.Do I pay?
First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Heathfield 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.
I am employed by a long established estate agency in Heathfield where we have experienced a number of flat sales jeopardised due to short leases. I have been given conflicting advice from local Heathfield conveyancing firms. Please can you shed some light as to whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease 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. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
Alternatively, it may be possible 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.
Can you provide any top tips for leasehold conveyancing in Heathfield with the aim of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Heathfield can be reduced where you instruct lawyers as soon as you market your property and ask them to collate the leasehold information needed by the purchasers’ representatives.
- Many landlords or Management Companies in Heathfield levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Heathfield.
Heathfield Leasehold Conveyancing - A selection of Questions you should ask before Purchasing
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You should want to discover as much as you can regarding the managing agents as they will impact your use and enjoyment of the property. As the owner of a leasehold property you will be in the clutches of the managing agents from a financial perspective and when it comes to day to day matters such as the cleanliness of the common parts. Don't be afraid to ask prospective neighbours if they are happy with their service. In conclusion, be sure you know the dates that the service charges are due to the managing agents and specifically what you get for your money.
Is anyone aware of any major works in the near future that could increase the service costs?
In the main the outlay for major works are not included within service charges, albeit that there some managing agents in Heathfield ask tenants to contribute towards a reserve fund and this is used to offset against major works.
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