Colliers Wood leasehold conveyancing Example Support Desk Enquiries
I am in need of some leasehold conveyancing in Colliers Wood. Before diving in I want to be sure as to the remaining lease term.
Assuming the lease is recorded at the land registry - and most are in Colliers Wood - 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.
My partner and I may need to let out our Colliers Wood ground floor flat temporarily due to a new job. We used a Colliers Wood conveyancing practice in 2004 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Even though your previous Colliers Wood conveyancing lawyer is not available you can review your lease to see if you are permitted to let out the apartment. The accepted inference is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek consent via your landlord or other appropriate person in advance of subletting. The net result is that you cannot sublet without first obtaining consent. The consent should not be unreasonably withheld. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
I work for a reputable estate agent office in Colliers Wood where we have witnessed a number of leasehold sales derailed due to short leases. I have been given conflicting advice from local Colliers Wood conveyancing firms. Could you clarify whether the seller of a flat can start the lease extension process 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. The benefit of this is that the proposed purchaser need not have to wait 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 at the same time as 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.
What advice can you give us when it comes to finding a Colliers Wood conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Colliers Wood conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Colliers Wood conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- If the firm is not ALEP accredited then what is the reason?
Do you have any advice for leasehold conveyancing in Colliers Wood with the aim of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Colliers Wood can be bypassed if you get in touch lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers.
- If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Colliers Wood state that internal structural changes or installing wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. Should you fail to have the paperwork in place you should not contact the landlord without contacting your solicitor before hand.
I have given up trying to purchase the freehold in Colliers Wood. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We can put you in touch with a Colliers Wood conveyancing firm who can help.
An example of a Lease Extension decision for a Colliers Wood premises is 14 Nutwell Street in January 2014. The premium payable for the acquisition of a new lease of the subject premises was in the sum of £30,523 This case was in relation to 1 flat. The unexpired lease term was 62.94 years.