Crook Log leasehold conveyancing: Q and A’s
My partner and I may need to let out our Crook Log 1st floor flat temporarily due to taking a sabbatical. We instructed a Crook Log conveyancing firm in 2001 but they have since shut and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Some leases for properties in Crook Log do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
Looking forward to sign contracts shortly on a studio apartment in Crook Log. Conveyancing solicitors assured me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Crook Log should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
Back In 2009, I bought a leasehold house in Crook Log. Conveyancing and Alliance & Leicester mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Crook Log who previously acted has long since retired.What should I do?
The first thing you should do is make enquiries of HMLR to make sure that this person is in fact the new freeholder. There is no need to incur the fees of a Crook Log conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I work for a reputable estate agency in Crook Log where we have witnessed a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Crook Log conveyancing firms. Could you confirm whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
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. The benefit of this is 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 sale.
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 purchaser.
Having spent years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Crook Log. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We are happy to put you in touch with a Crook Log conveyancing firm who can help.
An example of a Lease Extension decision for a Crook Log property is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case was in relation to 13 flats. The the unexpired residue of the current lease was 76 years.
In relation to leasehold conveyancing in Crook Log what are the most common lease defects?
Leasehold conveyancing in Crook Log is not unique. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Chelsea Building Society, and Barclays Direct all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the purchaser to withdraw.