Brent Park leasehold conveyancing Example Support Desk Enquiries
I have just started marketing my 2 bed apartment in Brent Park.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge invoice – what should I do?
It best that you pay the service charge 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 today plan to offer on a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Brent Park. Conveyancing advisers have are about to be instructed. Will they explain the issues?
Most houses in Brent Park are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Brent Park so you should seriously consider shopping around for a Brent Park conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer should report to you on the legal implications.
I've recently bought a leasehold house in Brent Park. Am I liable to pay service charges relating to a period prior to 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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 employed by a busy estate agency in Brent Park where we have witnessed a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Brent Park conveyancing solicitors. Could you confirm whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease 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. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done 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 advice can you give us when it comes to choosing a Brent Park conveyancing practice to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Brent Park conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Brent Park conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:
- If they are not ALEP accredited then why not?
After months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Brent Park. Can we issue an application to the Residential Property Tribunal Service?
if there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the amount due.
An example of a Freehold Enfranchisement matter before the tribunal for a Brent Park property is 7 Craven Park in June 2009. The tribunal considered it unnecessary to value the garage as an independent investment or to value each flat separately, providing that the marriage value calculation uses only the participating flats. Accordingly, the price determined by the Tribunal was £41,140 This case was in relation to 5 flats. The the unexpired term as at the valuation date was 73.14 years.