Frequently asked questions relating to Bulls Cross leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Bulls Cross. Before diving in I require certainty as to the unexpired term of the lease.
If the lease is registered - and 99.9% are in Bulls Cross - then the leasehold title will always include the short particulars 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.
I have recently realised that I have 62 years remaining on my lease in Bulls Cross. I am keen to get lease extension 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 extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to locate the lessor. In some cases a specialist would be helpful to conduct investigations and prepare a report to be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Bulls Cross.
I am employed by a reputable estate agent office in Bulls Cross where we see a number of flat sales jeopardised due to leases having less than 80 years remaining. I have been given contradictory information from local Bulls Cross conveyancing firms. Can you clarify whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?
Provided that 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 wait 2 years to extend their lease. 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 sale.
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.
Can you offer any advice when it comes to finding a Bulls Cross conveyancing firm to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Bulls Cross conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Bulls Cross conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:
- How familiar is the firm with lease extension legislation?
We expect to complete the disposal of our £125000 maisonette in Bulls Cross on Wednesday in a week. The landlords agents has quoted £312 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Bulls Cross?
For most leasehold sales in Bulls Cross conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-exchange questions
- Where consent is required before sale in Bulls Cross
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Bulls Cross conveyancing firm to act on my behalf?
Most definitely. We can put you in touch with a Bulls Cross conveyancing firm who can help.
An example of a Lease Extension decision for a Bulls Cross residence 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 related to 1 flat. The remaining number of years on the lease was 81.79 years.