Examples of recent questions relating to leasehold conveyancing in Little Mill
I am in need of some leasehold conveyancing in Little Mill. Before I get started I require certainty as to the remaining lease term.
If the lease is registered - and almost all are in Little Mill - 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 want to let out my leasehold apartment in Little Mill. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A small minority of properties in Little Mill do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I own a leasehold flat in Little Mill. Conveyancing and Aldermore mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Little Mill who acted for me is not around.What should I do?
The first thing you should do is contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Little Mill conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold house in Little Mill. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, 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).
I work for a long established estate agency in Little Mill where we see a number of flat sales jeopardised due to leases having less than 80 years remaining. I have been given inconsistent advice from local Little Mill conveyancing solicitors. Could you clarify whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
Provided that 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. This means that the proposed purchaser 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 prior to, or at the same time as completion of the sale.
An alternative approach is 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.
I purchased a 2 bed flat in Little Mill, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Little Mill with a long lease are worth £185,000. The average or mid-range amount of ground rent is £45 yearly. The lease ends on 21st October 2093
With just 67 years unexpired we estimate the price of your lease extension to range between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
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