I am on look out for some leasehold conveyancing in Heaton. Before diving in I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and most are in Heaton - 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.

Due to complete next month on a garden flat in Heaton. Conveyancing solicitors assured me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Heaton should include some of the following:

• The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark

I have just started marketing my 2 bed flat in Heaton.Conveyancing has not commenced but I have just received a half-yearly maintenance charge demand – Do I pay up?

The sensible thing to do is pay 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.

Last month I purchased a leasehold property in Heaton. Am I liable to pay service charges relating to a period prior to 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. 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).

I am employed by a reputable estate agent office in Heaton where we have witnessed a number of leasehold sales put at risk as a result of short leases. I have been given conflicting advice from local Heaton conveyancing firms. Please can you shed some light as to whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

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.

Leasehold Conveyancing in Heaton - Examples of Questions you should ask before Purchasing

Who manages the building? Where a Heaton lease has no more than 80 years it will have adverse implications on the salability of the flat. It is worth checking with your lender that they are willing to lend given the lease term. Leases with fewer than 80 years remaining means that you will probably have to extend the lease at some point and you need to have some idea of how much this will be. Remember, in most cases you would be be obliged to have been the owner of the residence for two years before you are eligible to exercise a lease extension. This information is helpful as a) areas could result in problems for the building as the communal areas may begin to deteriorate if services remain unpaid b) if the leaseholders have an issue with the running of the building you will wish to have full disclosure

Other Topics

Lease Extensions in Heaton