Examples of recent questions relating to leasehold conveyancing in Bulls Cross
There are only 62 years left on my flat in Bulls Cross. I need to extend my lease but my freeholder is absent. What are my options?
If you meet the appropriate requirements, 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 mean that your lease can be lengthened by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to locate the lessor. On the whole a specialist would be helpful to try and locate and to produce a report to be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s disappearance and the application to the County Court covering Bulls Cross.
Planning to complete next month on a ground floor flat in Bulls Cross. Conveyancing lawyers assured me that they will have a report out to me on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Bulls Cross should include some of the following:
- How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
I’m about to sell my 2 bed flat in Bulls Cross.Conveyancing is yet to be initiated but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?
It best that you discharge 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 am a negotiator for a long established estate agency in Bulls Cross where we see a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have received contradictory information from local Bulls Cross conveyancing solicitors. Please can you clarify whether the owner of a flat can instigate the lease extension process 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. The benefit of this is that the buyer 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 needs to be completed before, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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 buyer.
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Bulls Cross conveyancing firm to help?
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 premises 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 affected 1 flat. The the unexpired term as at the valuation date was 81.79 years.
Are there common deficiencies that you come across in leases for Bulls Cross properties?
Leasehold conveyancing in Bulls Cross is not unique. All leases is drafted differently and legal mistakes in the legal wording can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the premises
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, The Royal Bank of Scotland, and Clydesdale all have express conveyancing instructions 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 provide security, obliging the buyer to withdraw.