Frequently asked questions relating to Aldgate leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Aldgate. Before I get started I would like to find out the remaining lease term.
If the lease is recorded at the land registry - and almost all are in Aldgate - 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 only have 62 years left on my lease in Aldgate. I now wish to get lease extension but my landlord is absent. 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 lengthened by the Court. You will be obliged to prove that you or your lawyers have made all reasonable attempts to track down the freeholder. In some cases an enquiry agent may be useful to conduct investigations and prepare a report which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Aldgate.
Looking forward to complete next month on a basement flat in Aldgate. Conveyancing solicitors assured me that they will have a report out to me next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Aldgate should include some of the following:
- The total extent of the premises. This will be the apartment itself but could also incorporate a loft or basement if appropriate.
I have just appointed agents to market my ground floor flat in Aldgate.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the invoice 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 unless 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. This will smooth the conveyancing process.
Back In 2000, I bought a leasehold house in Aldgate. Conveyancing and Halifax mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Aldgate who acted for me is not around.Do I pay?
First contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Aldgate conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I own a first floor flat in Aldgate. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
Most definitely. We can put you in touch with a Aldgate conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Aldgate flat is 1-41 Royal Tower Lodge 40 Cartwright Street in April 2013. the tribunal adding the agreed value of capitalised ground rents and the reversion the price to be paid for the freehold was £1,187,000 This case related to 41 flats. The unexpired term was 107 years.