Lake District leasehold conveyancing Example Support Desk Enquiries
I am on look out for some leasehold conveyancing in Lake District. Before diving in I would like to find out the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and almost all are in Lake District - 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 own a leasehold house in Lake District. Conveyancing and Barclays Direct mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Lake District who acted for me is not around.Any advice?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Lake District conveyancing practitioner 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 rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am employed by a reputable estate agent office in Lake District where we have experienced a number of flat sales derailed due to leases having less than 80 years remaining. I have received inconsistent advice from local Lake District conveyancing solicitors. Could you confirm whether the seller of a flat can initiate the lease extension formalities for the buyer?
As long as the seller has been the owner 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. This means that the proposed purchaser can avoid having to sit tight for 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 agree the lease extension with the freeholder 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 Lake District conveyancing firm to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Lake District conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Lake District conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:
- What volume of lease extensions have they carried out in Lake District in the last 12 months?
Can you provide any top tips for leasehold conveyancing in Lake District with the purpose of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Lake District can be avoided where you appoint lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ representatives.
- The majority landlords or Management Companies in Lake District charge for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Lake District.
Lake District Leasehold Conveyancing - A selection of Queries before Purchasing
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How many years are left on the lease?
It would be prudent to enquire if the the lease includes any unreasonable restrictions in the lease. By way of example it is fairly common in Lake District leases that pets are not permitted in in a block in Lake District. If you like the apartmentin Lake District however your dog is not allowed to move with you then you have a very hard determination.
Best to be warned if changing the roof or some other significant cost is coming up to be shared by the leaseholders and will dramatically impact the level of the service charges or necessitate a specific payment.
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