Top Five Questions relating to Colney Hatch leasehold conveyancing
I am in need of some leasehold conveyancing in Colney Hatch. Before I get started I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and 99.9% are in Colney Hatch - 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.
Expecting to exchange soon on a basement flat in Colney Hatch. Conveyancing solicitors assured me that they are sending me a report tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Colney Hatch should include some of the following:
- You should receive a copy of the lease
I’m about to sell my 2 bed flat in Colney Hatch.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly service charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is clear the service charge 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 management companies will not acknowledge the buyer until 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 own a leasehold flat in Colney Hatch. Conveyancing and Bank of Ireland mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Colney Hatch who acted for me is not around.Do I pay?
First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to instruct a Colney Hatch conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the rightful freeholder, 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 Colney Hatch where we have witnessed a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Colney Hatch conveyancing firms. Can you clarify whether the seller of a flat can start the lease extension process for the buyer?
Provided that 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. This means that the buyer need not have to sit tight for 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.
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 years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Colney Hatch. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to determine the amount due.
An example of a Lease Extension matter before the tribunal for a Colney Hatch flat is 90 & 96 Poplar Grove in June 2013. It was held by the Tribunal that the premium to be paid for the new lease in respect of each of the flats referred should be £17,942 This case affected 2 flats. The the unexpired term as at the valuation date was 68 years.
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