Top Five Questions relating to Colindale leasehold conveyancing
I am on look out for some leasehold conveyancing in Colindale. Before diving in I would like to find out the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in Colindale - 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.
My fiance and I may need to sub-let our Colindale ground floor flat temporarily due to taking a sabbatical. We used a Colindale conveyancing practice in 2004 but they have closed and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Notwithstanding that your previous Colindale conveyancing solicitor is no longer around you can check your lease to see if it allows you to sublet the premises. The accepted inference is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you need to seek consent via your landlord or some other party before subletting. This means you not allowed to sublet without prior consent. Such consent is not allowed to be unreasonably withheld. If your lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.
I only have 72 years unexpired on my flat in Colindale. I now want to extend my lease but my landlord is can not be found. 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 for permission to dispense with the service of the initial notice. This will enable the lease to 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 freeholder. For most situations a specialist may be useful to carry out a search and to produce a report to be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Colindale.
I’m about to sell my basement flat in Colindale.Conveyancing is yet to be initiated but I have just received a half-yearly service charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear the invoice 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 managing agents 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 am employed by a busy estate agency in Colindale where we see a few leasehold sales put at risk due to leases having less than 80 years remaining. I have received contradictory information from local Colindale conveyancing firms. Please can you shed some light as to whether the vendor of a flat can instigate the lease extension formalities for the buyer?
As long as the seller has been the owner 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 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.
Alternatively, it may be possible 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 purchaser.
Following months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Colindale. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
if there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to determine the amount due.
An example of a Lease Extension matter before the tribunal for a Colindale flat is 27B Hillside in February 2010. the resulting premium, all other aspects of the valuation having been agreed between the parties was set at £8,250 This case affected 1 flat. The the unexpired term as at the valuation date was 70.25 years.