Examples of recent questions relating to leasehold conveyancing in Chessington
Having checked my lease I have discovered that there are only Sixty One years left on my flat in Chessington. I need to extend my lease but my landlord is can not be found. 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 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 Court. You will be obliged to prove that you have made all reasonable attempts to track down the lessor. In some cases a specialist may be helpful to carry out a search and to produce a report which can be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer both on investigating the landlord’s disappearance and the application to the County Court overseeing Chessington.
I am looking at a couple of flats in Chessington both have about fifty years unexpired on the lease term. should I be concerned?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the marketability of the lease reduces and it becomes more costly to acquire a lease extension. This is why it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease extension can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area
Last month I purchased a leasehold house in Chessington. Do I have any liability for service charges for periods before 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element 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 Chessington conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Chessington conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Chessington conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- What volume of lease extensions has the firm conducted in Chessington in the last 12 months?
We have reached the end of our tether in trying to purchase the freehold in Chessington. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to assess the amount due.
An example of a Lease Extension matter before the tribunal for a Chessington property 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 affected 1 flat.
When it comes to leasehold conveyancing in Chessington what are the most common lease defects?
Leasehold conveyancing in Chessington is not unique. Most leases are individual and drafting errors can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the building
- 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
You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Skipton Building Society, and Aldermore all have express conveyancing instructions 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, obliging the buyer to withdraw.