Kimberley leasehold conveyancing: Q and A’s
I am on look out for some leasehold conveyancing in Kimberley. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.
If the lease is registered - and 99.9% are in Kimberley - 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 wish to let out my leasehold apartment in Kimberley. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
A lease governs relations between the landlord and you the leaseholder; in particular, it will say if subletting is banned, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Kimberley do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
I’m about to sell my garden apartment in Kimberley.Conveyancing has not commenced but I have just had a half-yearly service 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 unless 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.
I am employed by a reputable estate agency in Kimberley where we have experienced a few leasehold sales jeopardised due to short leases. I have received contradictory information from local Kimberley conveyancing firms. Could you shed some light as to whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as 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. The benefit of this is that the buyer 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 needs to be completed before, or at the same time as completion of the sale.
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.
All being well we will complete the disposal of our £150000 apartment in Kimberley next Monday . The freeholder has quoted £372 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Kimberley?
Kimberley conveyancing on leasehold apartments often involves the purchaser’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to answer such questions most will be content to do so. They are entitled charge a reasonable charge for responding to 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 situations it is in excess of £800. The management information fee invoiced by the landlord must be sent together with a synopsis of rights and obligations in respect of administration charges, otherwise the invoice is technically not due. In reality one has little choice but to pay whatever is demanded if you want to complete the sale of your home.
Leasehold Conveyancing in Kimberley - Sample of Questions you should consider Prior to Purchasing
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Are any of leasehold owners in dispute over their service charge payments?
Who takes responsibility for maintaining and repairing the building?
It would be wise to discover as much as you can about the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you are frequently in the clutches of the managing agents both financially and when it comes to every day issues such as the upkeep of the common parts. Ask other people if they are happy with their management. On a final note, investigate as to the dates that the maintenance fees are due to the relevant party and specifically what it includes.
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