Top Five Questions relating to Canning Town leasehold conveyancing
I am in need of some leasehold conveyancing in Canning Town. Before diving in I would like to find out the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in Canning Town - 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 want to rent out my leasehold flat in Canning Town. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Some leases for properties in Canning Town do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I own a leasehold house in Canning Town. Conveyancing and Santander mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Canning Town who previously acted has now retired.Any advice?
First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Canning Town conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am employed by a busy estate agent office in Canning Town where we see a few flat sales jeopardised due to leases having less than 80 years remaining. I have been given contradictory information from local Canning Town conveyancing firms. Please can you clarify whether the seller of a flat can commence the lease extension formalities 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. This means that the proposed purchaser need not have 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 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 purchaser.
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Canning Town conveyancing firm to represent me?
Absolutely. We are happy to put you in touch with a Canning Town conveyancing firm who can help.
An example of a Lease Extension case for a Canning Town residence is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case affected 1 flat. The the unexpired term as at the valuation date was 69.77 years.
What makes a Canning Town lease unacceptable for security purposes?
Leasehold conveyancing in Canning Town is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the building
- 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 will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Chelsea 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 purchaser to pull out.