Examples of recent questions relating to leasehold conveyancing in Cockfosters
My wife and I may need to let out our Cockfosters 1st floor flat for a while due to a career opportunity. We instructed a Cockfosters conveyancing practice in 2002 but they have closed and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?
Your lease dictates relations between the freeholder and you the flat owner; specifically, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Cockfosters do not prevent subletting altogether – such a provision would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
Due to sign contracts shortly on a ground floor flat in Cockfosters. Conveyancing lawyers have said that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Cockfosters should include some of the following:
- You should be sent a copy of the lease
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great price which is making it all the more appealing. I have since discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Cockfosters. Conveyancing lawyers have are about to be instructed. Will they explain the issues?
Most houses in Cockfosters are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Cockfosters in which case you should be looking for a Cockfosters 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 lessee you will not be at liberty to do whatever you want to the property. 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 maintenance of the communal areas where the house is part of an estate. Your solicitor should advise you fully on all the issues.
I am a negotiator for a busy estate agent office in Cockfosters where we have witnessed a few flat sales jeopardised due to leases having less than 80 years remaining. I have been given conflicting advice from local Cockfosters conveyancing firms. Please can you confirm whether the vendor of a flat can start the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. 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 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 buyer.
Can you offer any advice when it comes to finding a Cockfosters conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Cockfosters conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Cockfosters conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- How experienced is the firm with lease extension legislation?
After months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Cockfosters. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a absentee freeholder or where there is disagreement 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 arrive at the price.
An example of a Freehold Enfranchisement matter before the tribunal for a Cockfosters property is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case affected 2 flats. The the unexpired term as at the valuation date was 70.31 years.