Sample questions relating to Canonbury leasehold conveyancing
I have recently realised that I have 72 years unexpired on my flat in Canonbury. I need to get lease extension but my landlord is absent. What are my options?
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 magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to track down the landlord. On the whole an enquiry agent may be useful to try and locate and to produce a report to be used as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Canonbury.
I've found a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Canonbury. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Canonbury ?
Most houses in Canonbury are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Canonbury in which case you should be shopping around for a Canonbury conveyancing practitioner and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer will report to you on the legal implications.
Back In 2003, I bought a leasehold house in Canonbury. Conveyancing and Barclays mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Canonbury who acted for me is not around.Any advice?
The first thing you should do is contact the Land Registry to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Canonbury conveyancing firm to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am employed by a busy estate agency in Canonbury where we see a few flat sales derailed as a result of short leases. I have been given contradictory information from local Canonbury conveyancing solicitors. Can you clarify whether the vendor of a flat can commence the lease extension formalities 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 commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer 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 needs to be completed prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible 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.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £200000 garden flat in Canonbury next Tuesday . The managing agents has quoted £420 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Canonbury?
For the majority of leasehold sales in Canonbury conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing conveyancing due diligence questions
- Where consent is required before sale in Canonbury
- 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 inherited a ground-floor 1960’s flat in Canonbury. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?
Absolutely. We are happy to put you in touch with a Canonbury conveyancing firm who can help.
An example of a Lease Extension case for a Canonbury residence is 5C Stoke Newington Road in April 2010. the Tribunal therefore concludes that the premium to be paid for the extended lease is £700.00 This case was in relation to 1 flat. The the unexpired term as at the valuation date was 80.5 years.