Top Five Questions relating to Chalk Farm leasehold conveyancing
There are only Fifty years left on my flat in Chalk Farm. I need to extend my lease but my landlord is absent. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to prove that you or your lawyers have used your best endeavours to locate the lessor. In some cases a specialist would be useful to conduct investigations and to produce a report to be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Chalk Farm.
Due to sign contracts shortly on a leasehold property in Chalk Farm. Conveyancing lawyers have said that they will have a report out to me tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Chalk Farm should include some of the following:
- You should receive a copy of the lease
I am hoping to put an offer on a small detached house that appears to be perfect, at a great figure which is making it more attractive. I have just been informed that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Chalk Farm. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Chalk Farm ?
The majority of houses in Chalk Farm are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Chalk Farm so you should seriously consider shopping around for a Chalk Farm conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer should appraise you on the various issues.
Last month I purchased a leasehold house in Chalk Farm. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, 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 ensure 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).
What advice can you give us when it comes to finding a Chalk Farm conveyancing practice to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Chalk Farm conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Chalk Farm conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- What volume of lease extensions has the firm conducted in Chalk Farm in the last twenty four months?
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 Chalk Farm conveyancing firm to assist?
in cases where there is a missing landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the price payable.
An example of a Lease Extension case for a Chalk Farm premises is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case affected 1 flat. The the unexpired residue of the current lease was 64.77 years.
Other Topics