Examples of recent questions relating to leasehold conveyancing in Langford
Having had my offer accepted I require leasehold conveyancing in Langford. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
If the lease is registered - and most are in Langford - then the leasehold title will always include the basic details 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.
Expecting to sign contracts shortly on a garden flat in Langford. Conveyancing lawyers inform me that they are sending me a report next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Langford should include some of the following:
- How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
My wife and I purchased a leasehold house in Langford. Conveyancing and Accord Mortgages Ltd mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Langford who previously acted has long since retired.Any advice?
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. There is no need to incur the fees of a Langford conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I work for a busy estate agency in Langford where we have witnessed a few flat sales derailed as a result of short leases. I have received conflicting advice from local Langford conveyancing firms. Could you shed some light as to whether the vendor of a flat can initiate 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 kick-start 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 sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, 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 purchaser.
Completion in due on our sale of a £500000 apartment in Langford next Friday . The managing agents has quoted £360 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Langford?
Langford conveyancing on leasehold apartments normally involves the purchaser’s solicitor submitting questions for the landlord to answer. Although the landlord is not legally bound to answer such questions most will be content to assist. They are at liberty invoice a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The management information fee required by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, without which the charge is technically not due. In reality one has no choice but to pay whatever is demanded if you want to sell the property.
Langford Conveyancing for Leasehold Flats - A selection of Queries before Purchasing
Be sure to enquire if there is anything that is prohibited in the lease. For instance it is fairly common in Langford leases that pets are not permitted in certain buildings in Langford. If you love the flatin Langford yet your dog is not allowed to move with you then you will be presented with a difficult compromise.
Are there any major works on the horizon that will add a premium to the service fees?
Is there a share of the freehold?