Recently asked questions relating to Hermitage leasehold conveyancing
I only have 72 years remaining on my flat in Hermitage. I now want to extend my lease but my landlord is missing. What should I do?
On the basis that 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 track down the lessor. For most situations a specialist should be helpful to try and locate and prepare an expert document to be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on investigating the landlord’s disappearance and the vesting order request to the County Court covering Hermitage.
Expecting to sign contracts shortly on a ground floor flat in Hermitage. Conveyancing lawyers have said that they will have a report out to me tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Hermitage 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 not letting the lease term falling below eighty years
I own a leasehold flat in Hermitage. Conveyancing and Barclays mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Hermitage who previously acted has now retired.Any advice?
The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Hermitage conveyancing solicitor to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I work for a reputable estate agency in Hermitage where we see a number of flat sales jeopardised due to leases having less than 80 years remaining. I have been given inconsistent advice from local Hermitage conveyancing solicitors. Can you clarify whether the seller of a flat can commence the lease extension formalities for the buyer?
Provided that the seller has owned the lease 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 proposed purchaser can avoid having to sit tight for 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 simultaneously with completion of the disposal of the property.
An alternative approach is 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.
In relation to leasehold conveyancing in Hermitage what are the most common lease defects?
Leasehold conveyancing in Hermitage is not unique. All leases are individual and drafting errors can result in certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the property
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You will encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Bank of Scotland, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the purchaser to withdraw.
Leasehold Conveyancing in Hermitage - A selection of Queries Prior to buying
Generally speaking the cost for major works tend not to be wrapped into the maintenance charges, although a few managing agents in Hermitage require leasehold owners to contribute towards a sinking fund created for the specific purpose of establishing a fund for major works.
This question is helpful as a) areas may cause problems in the block as the common areas may begin to deteriorate where maintenance are not paid for b) if the leaseholders have a dispute with the managing agents you will need to have all the details
Who takes charge for maintaining and repairing the building?