Sample questions relating to Alperton leasehold conveyancing
I am hoping to sign contracts shortly on a garden flat in Alperton. Conveyancing lawyers inform me that they are sending me a report next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Alperton should include some of the following:
- You should receive a copy of the lease
I’m about to sell my basement flat in Alperton.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is discharge 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. 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 reasonable figure which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Alperton. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
Most houses in Alperton are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Alperton in which case you should be looking for a Alperton conveyancing practitioner and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer should report to you on the legal implications.
I've recently bought a leasehold property in Alperton. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee 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. A critical element 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 am a negotiator for a reputable estate agency in Alperton where we see a few flat sales jeopardised as a result of short leases. I have been given conflicting advice from local Alperton conveyancing firms. Can you shed some light as to whether the owner of a flat can initiate the lease extension process 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 start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with 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 have had difficulty in negotiating a lease extension in Alperton. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to arrive at the sum to be paid.
An example of a Lease Extension decision for a Alperton residence is 99 Connell Crescent in May 2013. the Tribunal held that the relevant sum for the purposes of the lease extension should be £72,566 to be paid by the leaseholder This case was in relation to 1 flat. The unexpired term was 28.42 years.