Cheam leasehold conveyancing: Q and A’s
Having checked my lease I have discovered that there are only Sixty One years left on my lease in Cheam. I now wish to extend my lease but my landlord is missing. What options are available to me?
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 an order 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 prove that you or your lawyers have used your best endeavours to find the landlord. In some cases an enquiry agent may be useful to carry out a search and prepare a report which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer both on investigating the landlord’s absence and the application to the County Court overseeing Cheam.
Looking forward to exchange soon on a ground floor flat in Cheam. Conveyancing solicitors assured me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Cheam should include some of the following:
- You should receive a copy of the lease
I own a leasehold house in Cheam. Conveyancing and Alliance & Leicester mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Cheam who acted for me is not around.Do I pay?
The first thing you should do is contact the Land Registry to make sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to incur the fees of a Cheam conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note 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 Cheam where we have experienced a few leasehold sales derailed as a result of short leases. I have received inconsistent advice from local Cheam conveyancing firms. Could you confirm whether the vendor of a flat can start 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. The benefit of this is that the proposed purchaser can avoid having to wait 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 sale.
Alternatively, it may be possible 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 provide any top tips for leasehold conveyancing in Cheam with the intention of expediting the sale process?
- Much of the delay in leasehold conveyancing in Cheam can be reduced if you get in touch lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information which will be required by the buyers representatives.
- Many landlords or Management Companies in Cheam charge for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Cheam.
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Cheam conveyancing firm to act on my behalf?
Most definitely. We are happy to put you in touch with a Cheam conveyancing firm who can help.
An example of a Lease Extension decision for a Cheam residence is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case affected 1 flat. The the number of years remaining on the existing lease(s) was 60.43 years.