Sample questions relating to Launceston leasehold conveyancing
Having checked my lease I have discovered that there are only Seventy years remaining on my lease in Launceston. I need to get lease extension but my landlord is absent. What options are available to me?
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 an order 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 made all reasonable attempts to locate the landlord. For most situations a specialist should be useful to try and locate and to produce an expert document to be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Launceston.
Last month I purchased a leasehold property in Launceston. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Can you offer any advice when it comes to finding a Launceston conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Launceston conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Launceston conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- What volume of lease extensions has the firm conducted in Launceston in the last 12 months?
Do you have any top tips for leasehold conveyancing in Launceston with the intention of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Launceston can be reduced where you get in touch lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation needed by the purchasers’ representatives.
- In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Launceston state that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord approving such changes. If you dont have the paperwork to hand you should not contact the landlord without contacting your conveyancer first.
What makes a Launceston lease defective?
Leasehold conveyancing in Launceston is not unique. Most leases is drafted differently and drafting errors can result in certain provisions are wrong. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the property
- 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
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, The Royal Bank of Scotland, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.
Launceston Leasehold Conveyancing - Sample of Queries Prior to buying
For most Launceston leaseholds the outlay for major works are not incorporated into the service charges, albeit that some managing agents in Launceston obliged leaseholders to contribute towards a reserve fund and this is used to offset against major repairs or maintenance.
Are any of leasehold owners in dispute over their service charge payments?
Does the lease include onerous restrictions?