Sample questions relating to Clerkenwell leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Clerkenwell. Before I get started I require certainty as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and almost all are in Clerkenwell - then the leasehold title will always include the short particulars 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.
Having checked my lease I have discovered that there are only Seventy years left on my lease in Clerkenwell. I now wish to get lease extension but my freeholder 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 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 lengthened by the Court. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to track down the freeholder. For most situations an enquiry agent should be useful to carry out a search and prepare an expert document to be used as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s disappearance and the application to the County Court covering Clerkenwell.
I've found a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Clerkenwell. Conveyancing advisers have are soon to be appointed. Will they explain the issues?
Most houses in Clerkenwell are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in Clerkenwell so you should seriously consider looking for a Clerkenwell conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your conveyancer should appraise you on the various issues.
My wife and I purchased a leasehold house in Clerkenwell. Conveyancing and Birmingham Midshires mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Clerkenwell who previously acted has now retired.Do I pay?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. You do not need to incur the fees of a Clerkenwell 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 legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am employed by a long established estate agent office in Clerkenwell where we have witnessed a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have received contradictory information from local Clerkenwell conveyancing firms. Can you confirm whether the seller 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 wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is 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 buyer.
My wife and I have hit a brick wall in trying to purchase the freehold in Clerkenwell. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We can put you in touch with a Clerkenwell conveyancing firm who can help.
An example of a Lease Extension case for a Clerkenwell residence is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case was in relation to 1 flat. The the unexpired term as at the valuation date was 66.8 years.
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