Examples of recent questions relating to leasehold conveyancing in Addiscombe
I am in need of some leasehold conveyancing in Addiscombe. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
If the lease is recorded at the land registry - and most are in Addiscombe - 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.
I have just appointed agents to market my ground floor flat in Addiscombe.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge invoice – what should I do?
The sensible thing to do is discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it all the more appealing. I have since been informed that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Addiscombe. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
Most houses in Addiscombe are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Addiscombe so you should seriously consider shopping around for a Addiscombe conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a maintenance 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.
I own a leasehold flat in Addiscombe. Conveyancing and Virgin Money mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Addiscombe who previously acted has now retired.Do I pay?
First make enquiries of HMLR to be sure that this person is indeed the new freeholder. There is no need to instruct a Addiscombe conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am employed by a busy estate agency in Addiscombe where we see a few flat sales derailed as a result of leases having less than 80 years remaining. I have been given contradictory information from local Addiscombe conveyancing firms. Could you clarify whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as 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 buyer can avoid having 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.
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 buyer.
I have tried to negotiate informally with with my landlord to extend my lease without success. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Addiscombe conveyancing firm to help?
Most definitely. We can put you in touch with a Addiscombe conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Addiscombe flat is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case affected 4 flats. The remaining number of years on the lease was 98 years.
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