Hornsea leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in Hornsea. Before I get started I require certainty as to the remaining lease term.
If the lease is recorded at the land registry - and almost all are in Hornsea - 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.
Back In 2003, I bought a leasehold flat in Hornsea. Conveyancing and Barclays Direct mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Hornsea who acted for me is not around.What should I do?
First contact the Land Registry to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Hornsea conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold flat in Hornsea. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner 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. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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).
What are your top tips when it comes to choosing a Hornsea conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Hornsea conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Hornsea conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:
- How many lease extensions has the firm carried out in Hornsea in the last year?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £150000 garden flat in Hornsea in 5 days. The freeholder has quoted £372 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Hornsea?
Hornsea conveyancing on leasehold maisonettes often involves the purchaser’s lawyer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries most will be willing to assist. They are entitled charge a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge required by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, without which the invoice is not strictly payable. In reality you have little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
Hornsea Leasehold Conveyancing - Sample of Questions you should consider before Purchasing
Its a good idea to discover as much as you can regarding the company managing the block as they will affect 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 practical issues like the tidiness of the communal areas. Don't be shy to ask other people what they think of their management. Finally, be sure you discover the dates that the service charges are due to the relevant party and specifically what you get for your money.
The answer will be useful as a) areas can cause problems for the block as the common areas may start to deteriorate where repairs are not paid for b) if the tenants have a dispute with the running of the building you will need to have complete disclosure
What is the the remaining lease term?