Top Five Questions relating to Chessington leasehold conveyancing
I am on look out for some leasehold conveyancing in Chessington. Before I set the wheels in motion I would like to find out the remaining lease term.
If the lease is registered - and 99.9% are in Chessington - then the leasehold title will always include the basic details 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 have recently realised that I have Sixty One years left on my flat in Chessington. I need to get lease extension but my freeholder is absent. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to prove that you have used your best endeavours to track down the lessor. On the whole an enquiry agent should be useful to carry out a search and to produce an expert document which can be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a solicitor both on devolving into the landlord’s absence and the application to the County Court covering Chessington.
I have just appointed agents to market my basement apartment in Chessington.Conveyancing has not commenced but I have just received a yearly service charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the service charge 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 management companies 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. This will smooth the conveyancing process.
I own a leasehold house in Chessington. 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 1995. The conveyancing practitioner in Chessington who acted for me is not around.Any advice?
The first thing you should do is make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Chessington conveyancing practitioner to do this as it can be done on-line for a few pound. 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.
Notwithstanding our best endeavours, we have been unsuccessful in seeking a lease extension in Chessington. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We are happy to put you in touch with a Chessington conveyancing firm who can help.
An example of a Lease Extension case for a Chessington premises is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case was in relation to 1 flat.
In relation to leasehold conveyancing in Chessington what are the most common lease problems?
Leasehold conveyancing in Chessington is not unique. Most leases are unique and drafting errors can result in certain provisions are wrong. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the premises
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, The Mortgage Works, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the purchaser to withdraw.