Sample questions relating to Arnos Grove leasehold conveyancing
I have recently realised that I have Fifty years unexpired on my lease in Arnos Grove. I am keen to get lease extension but my landlord is missing. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to prove that you or your lawyers have made all reasonable attempts to track down the freeholder. On the whole an enquiry agent should be helpful to carry out a search and to produce a report which can be used as evidence that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Arnos Grove.
Back In 2002, I bought a leasehold house in Arnos Grove. Conveyancing and The Mortgage Works mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Arnos Grove who previously acted has now retired.Do I pay?
The first thing you should do is contact the Land Registry to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Arnos Grove conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am a negotiator for a reputable estate agency in Arnos Grove where we see a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Arnos Grove conveyancing solicitors. Could you confirm whether the vendor of a flat can initiate the lease extension formalities for the buyer?
Provided that the seller has been the owner 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. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. 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 disposal of the property.
Alternatively, it may be possible 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.
Can you provide any top tips for leasehold conveyancing in Arnos Grove from the perspective of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Arnos Grove can be bypassed where you appoint lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the buyers solicitors.
- The majority landlords or managing agents in Arnos Grove levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Arnos Grove.
Following months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Arnos Grove. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to arrive at the sum to be paid.
An example of a Freehold Enfranchisement matter before the tribunal for a Arnos Grove premises is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case affected 2 flats. The the number of years remaining on the existing lease(s) was 70.31 years.
When it comes to leasehold conveyancing in Arnos Grove what are the most frequent lease problems?
Leasehold conveyancing in Arnos Grove is not unique. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Virgin Money, and TSB all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.