Sample questions relating to Kirkby Lonsdale leasehold conveyancing
Due to exchange soon on a ground floor flat in Kirkby Lonsdale. Conveyancing solicitors assured me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Kirkby Lonsdale should include some of the following:
- The total extent of the demise. This will be the apartment itself but could also incorporate a roof space or basement if applicable.
I have just started marketing my basement apartment in Kirkby Lonsdale.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge demand – what should I do?
It best that you 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 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.
Back In 2008, I bought a leasehold flat in Kirkby Lonsdale. Conveyancing and Chelsea Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Kirkby Lonsdale who previously acted has now retired.What should I do?
First make enquiries of HMLR to be sure that this person is in fact the new freeholder. You do not need to incur the fees of a Kirkby Lonsdale conveyancing solicitor 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 the limitation period for recovery of ground rent is six years.
I am employed by a long established estate agent office in Kirkby Lonsdale where we see a number of leasehold sales put at risk as a result of short leases. I have been given contradictory information from local Kirkby Lonsdale conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can start the lease extension formalities for the buyer?
As long as 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 proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
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 buyer.
What advice can you give us when it comes to choosing a Kirkby Lonsdale conveyancing firm to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Kirkby Lonsdale conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Kirkby Lonsdale conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- How many lease extensions have they carried out in Kirkby Lonsdale in the last twenty four months?
I am the registered owner of a ground floor flat in Kirkby Lonsdale, conveyancing having been completed 1999. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Kirkby Lonsdale with a long lease are worth £189,000. The average or mid-range amount of ground rent is £55 yearly. The lease ceases on 21st October 2100
With just 77 years unexpired we estimate the price of your lease extension to be between £10,500 and £12,000 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.