Recently asked questions relating to Aldgate leasehold conveyancing
I want to sublet my leasehold apartment in Aldgate. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Even though your last Aldgate conveyancing lawyer is not around you can check your lease to check if it allows you to sublet the apartment. The accepted inference is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you need to obtain permission via your landlord or other appropriate person in advance of subletting. This means that you cannot sublet without prior permission. Such consent is not allowed to be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord for their consent.
Having checked my lease I have discovered that there are only Sixty One years left on my lease in Aldgate. I need to extend my lease but my freeholder is absent. What should I do?
If 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 mean that your lease can be granted an extra 90 years by the Court. However, you will be required to prove that you have made all reasonable attempts to locate the lessor. On the whole a specialist may be helpful to try and locate and to produce an expert document which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Aldgate.
I am a negotiator for a long established estate agent office in Aldgate where we see a few flat sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local Aldgate conveyancing solicitors. Could you confirm whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?
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. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord 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.
Can you offer any advice when it comes to choosing a Aldgate conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Aldgate conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Aldgate conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:
- How many lease extensions has the firm carried out in Aldgate in the last 12 months?
If all goes to plan we aim to complete our sale of a £225000 maisonette in Aldgate in just under a week. The landlords agents has quoted £324 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Aldgate?
Aldgate conveyancing on leasehold maisonettes nine out of ten times results in fees being levied by landlords agents :
- Answering conveyancing due diligence questions
- Where consent is required before sale in Aldgate
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have given up trying to purchase the freehold in Aldgate. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We can put you in touch with a Aldgate conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Aldgate residence 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 was in relation to 41 flats. The the unexpired term as at the valuation date was 107 years.