Frequently asked questions relating to Knaphill leasehold conveyancing
I have recently realised that I have Sixty One years remaining on my lease in Knaphill. I now wish to extend my lease but my freeholder is can not be found. What should I do?
On the basis that you meet the appropriate requirements, 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 magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to find the freeholder. In some cases a specialist should be helpful to carry out a search and to produce a report to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the application to the County Court covering Knaphill.
Looking forward to exchange soon on a ground floor flat in Knaphill. Conveyancing solicitors have said that they are sending me a report tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Knaphill should include some of the following:
- The total extent of the property. This will be the apartment itself but could also incorporate a loft or basement if appropriate.
Back In 2008, I bought a leasehold house in Knaphill. Conveyancing and Alliance & Leicester mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Knaphill who previously acted has now retired.What should I do?
The first thing you should do is contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Knaphill conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am a negotiator for a busy estate agent office in Knaphill where we have witnessed a number of leasehold sales derailed due to short leases. I have received conflicting advice from local Knaphill conveyancing solicitors. Please can you confirm whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having 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 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.
Can you provide any advice for leasehold conveyancing in Knaphill from the point of view of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Knaphill can be reduced if you instruct lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ representatives.
- Many freeholders or Management Companies in Knaphill charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Knaphill.
Leasehold Conveyancing in Knaphill - A selection of Questions you should ask Prior to buying
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You will want to discover as much as possible concerning the company managing the block as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are often in the clutches of the managing agents both financially and when it comes to every day matters like the cleanliness of the communal areas. You should not be shy to ask prospective neighbours what they think of them. Finally, find out the dates that the maintenance charges are due to the appropriate party and specifically how they are spending that money.
This information is important as a) areas may cause problems in the block as the common areas may start to deteriorate where maintenance remain unpaid b) if the tenants have a dispute with the running of the building you will wish to know about it
How is the lease structured?
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