Top Five Questions relating to Botany Bay leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Botany Bay. Before I get started I want to be sure as to the remaining lease term.
Assuming the lease is recorded at the land registry - and 99.9% are in Botany Bay - then the leasehold title will always include the basic details 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 Sixty One years unexpired on my lease in Botany Bay. I now want to extend my lease but my landlord is absent. What are my options?
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 an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to find the lessor. For most situations an enquiry agent should be helpful to carry out a search and to produce an expert document which can be used as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on proving the landlord’s absence and the application to the County Court covering Botany Bay.
Planning to sign contracts shortly on a leasehold property in Botany Bay. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Botany Bay should include some of the following:
- You should be sent a copy of the lease
I have just appointed agents to market my ground floor apartment in Botany Bay.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear 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 managing agents 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've recently bought a leasehold flat in Botany Bay. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation 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 the proprietor of a a ground floor purpose built flat in Botany Bay. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for the purchase of the freehold?
Most certainly. We are happy to put you in touch with a Botany Bay conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Botany Bay property is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case related to 2 flats. The remaining number of years on the lease was 70.31 years.