Common questions relating to Bowes Park leasehold conveyancing
I am in need of some leasehold conveyancing in Bowes Park. Before I get started I would like to find out the unexpired term of the lease.
If the lease is registered - and almost all are in Bowes Park - 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 62 years unexpired on my lease in Bowes Park. I need to extend my lease but my landlord is can not be found. What are my options?
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 enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have made all reasonable attempts to track down the landlord. For most situations an enquiry agent should be helpful to try and locate and to produce an expert document to be used as evidence that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s disappearance and the application to the County Court covering Bowes Park.
Planning to exchange soon on a basement flat in Bowes Park. Conveyancing solicitors inform me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Bowes Park should include some of the following:
- The length of the lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
Back In 2000, I bought a leasehold house in Bowes Park. Conveyancing and Leeds Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Bowes Park who acted for me is not around.Do I pay?
First make enquiries of the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Bowes Park conveyancing lawyer to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I have had difficulty in negotiating a lease extension in Bowes Park. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We can put you in touch with a Bowes Park conveyancing firm who can help.
An example of a Lease Extension decision for a Bowes Park property is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case was in relation to 1 flat. The unexpired lease term was 81.79 years.
In relation to leasehold conveyancing in Bowes Park what are the most common lease defects?
Leasehold conveyancing in Bowes Park is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain clauses are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the building
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Coventry Building Society, 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 does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.