Examples of recent questions relating to leasehold conveyancing in Lansbury
There are only 72 years unexpired on my flat in Lansbury. I need to extend my lease but my freeholder is can not be found. What options are available to me?
On the basis that you qualify, 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 enable the lease to be extended by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to track down the lessor. On the whole an enquiry agent should be useful to carry out a search and to produce an expert document which can be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on proving the landlord’s absence and the vesting order request to the County Court overseeing Lansbury.
Looking forward to complete next month on a studio apartment in Lansbury. Conveyancing solicitors assured me that they are sending me a report on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Lansbury should include some of the following:
- You should receive a copy of the lease
I work for a long established estate agent office in Lansbury where we have experienced a few flat sales jeopardised due to short leases. I have been given conflicting advice from local Lansbury conveyancing firms. Can you confirm whether the owner of a flat can instigate 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. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
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.
Can you provide any advice for leasehold conveyancing in Lansbury with the intention of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Lansbury can be reduced where you get in touch lawyers the minute you market your property and request that they start to collate the leasehold information needed by the buyers representatives.
- If you have carried out any alterations to the premises would they have required Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Lansbury state that internal structural changes or laying down wooden flooring calls for a licence from the Landlord consenting to such works. Should you fail to have the consents to hand you should not communicate with the landlord without checking with your solicitor first.
After months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Lansbury. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to judgment on the premium.
An example of a Vesting Order and Purchase of freehold matter before the tribunal for a Lansbury residence is Ground Floor Flat 4A Baronet Road in February 2010. Following a vesting order by Edmonton County Court on 23rd December 2008 (case number 8ED064) the Tribunal decided that the price that the Applicant for the freehold interest should pay is £8,689.00 This case related to 2 flats. The unexpired term was 80.01 years.
When it comes to leasehold conveyancing in Lansbury what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Lansbury. Most leases is drafted differently and drafting errors can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the building
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
You will encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Norwich and Peterborough Building Society, and Aldermore all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.