Brent Cross leasehold conveyancing Example Support Desk Enquiries
I have recently realised that I have Seventy years unexpired on my flat in Brent Cross. I now wish to extend my lease but my freeholder is can not be found. What should I do?
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 lengthened by the Court. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to track down the freeholder. For most situations a specialist may be helpful to carry out a search and to produce a report to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on proving the landlord’s absence and the application to the County Court covering Brent Cross.
I am looking at a couple of flats in Brent Cross which have in the region of forty five years unexpired on the leases. Will this present a problem?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease deteriorate and it becomes more costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena
I work for a busy estate agent office in Brent Cross where we have witnessed a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have received contradictory information from local Brent Cross conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can initiate the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord 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.
What are your top tips when it comes to finding a Brent Cross conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Brent Cross conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Brent Cross conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- Can they put you in touch with client in Brent Cross who can give a testimonial?
Can you provide any top tips for leasehold conveyancing in Brent Cross with the intention of expediting the sale process?
- Much of the delay in leasehold conveyancing in Brent Cross can be bypassed where you appoint lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
- Many landlords or managing agents in Brent Cross levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Brent Cross.
Notwithstanding our best endeavours, we have been unsuccessful in trying to purchase the freehold in Brent Cross. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We are happy to put you in touch with a Brent Cross conveyancing firm who can help.
An example of a Lease Extension decision for a Brent Cross flat is First Floor Flat 61 Wilberforce Road in March 2014. The premium payable was £10,130 and the case was remitted back to the Willesden County Court to effect the Vesting Order (Claim No 3W103100). This case affected 1 flat. The remaining number of years on the lease was 71 years.