Top Five Questions relating to Ardleigh Green leasehold conveyancing
I am on look out for some leasehold conveyancing in Ardleigh Green. Before diving in I want to be sure as to the remaining lease term.
If the lease is recorded at the land registry - and most are in Ardleigh Green - 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.
There are only Seventy years left on my lease in Ardleigh Green. I need to extend my lease but my landlord is missing. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the freeholder. On the whole an enquiry agent would be helpful to try and locate and prepare an expert document to be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Ardleigh Green.
I am looking at a couple of apartments in Ardleigh Green both have about forty five years left on the lease term. Will this present a problem?
There are plenty of short leases in Ardleigh Green. The lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the saleability of the lease deteriorate and it becomes more expensive to acquire a lease extension. This is why it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this area
Last month I purchased a leasehold property in Ardleigh Green. Do I have any liability for service charges for periods before completion of my purchase?
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).
If all goes to plan we aim to complete the sale of our £475000 flat in Ardleigh Green on Friday in a week. The landlords agents has quoted £372 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Ardleigh Green?
Ardleigh Green conveyancing on leasehold apartments usually necessitates fees being levied by managing agents :
- Addressing conveyancing due diligence enquiries
- Where consent is required before sale in Ardleigh Green
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
After years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Ardleigh Green. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
if there is a absentee landlord or where 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 decide the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Ardleigh Green premises is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The remaining number of years on the lease was 57.5 years.
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