Examples of recent questions relating to leasehold conveyancing in Llanelli
I would like to rent out my leasehold apartment in Llanelli. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Even though your last Llanelli conveyancing solicitor is no longer available you can check your lease to see if it allows you to sublet the premises. The rule is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you must obtain consent from your landlord or other appropriate person prior to subletting. The net result is you not allowed to sublet in the absence of first obtaining consent. Such consent should not be unreasonably turned down. If your lease does not allow you to sublet you should ask your landlord for their consent.
Due to exchange soon on a basement flat in Llanelli. Conveyancing lawyers assured me that they will have a report out to me on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Llanelli should include some of the following:
- The physical extent of the demise. This will be the property itself but might incorporate a loft or cellar if appropriate.
I today plan to offer on a house that seems to meet my requirements, at a great figure which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Llanelli. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
Most houses in Llanelli are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Llanelli so you should seriously consider shopping around for a Llanelli conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to carry out alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your solicitor should advise you fully on all the issues.
My wife and I purchased a leasehold flat in Llanelli. Conveyancing and Nationwide Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Llanelli who acted for me is not around.Any advice?
The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Llanelli conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am a negotiator for a reputable estate agent office in Llanelli where we have experienced a few leasehold sales derailed as a result of short leases. I have received contradictory information from local Llanelli conveyancing solicitors. Can you confirm whether the seller of a flat can commence the lease extension process for the buyer?
Provided that 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 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 needs to be completed prior to, or simultaneously with completion of the disposal of the property.
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 am the registered owner of a split level flat in Llanelli, conveyancing formalities finalised in 2001. How much will my lease extension cost? Corresponding flats in Llanelli with over 90 years remaining are worth £236,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ceases on 21st October 2086
With only 65 years unexpired the likely cost is going to range between £17,100 and £19,800 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.