Crouch End leasehold conveyancing: Q and A’s
I have recently realised that I have Fifty years left on my lease in Crouch End. I now wish to get lease extension but my landlord is can not be found. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to locate the freeholder. In some cases an enquiry agent would be useful to try and locate and to produce a report which can be used as proof that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s absence and the vesting order request to the County Court covering Crouch End.
Due to exchange soon on a leasehold property in Crouch End. Conveyancing solicitors inform 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 Crouch End should include some of the following:
- How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
I've recently bought a leasehold house in Crouch End. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am a negotiator for a long established estate agent office in Crouch End where we have witnessed a few leasehold sales jeopardised as a result of short leases. I have been given conflicting advice from local Crouch End conveyancing firms. Can you clarify whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start 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 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 at the same time as completion of the sale.
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 buyer.
What advice can you give us when it comes to choosing a Crouch End conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Crouch End conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Crouch End conveyancing practices before you instructing a firm. Where the conveyancing practice 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?
I inherited a basement flat in Crouch End. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?
Absolutely. We are happy to put you in touch with a Crouch End conveyancing firm who can help.
An example of a Lease Extension case for a Crouch End premises is Flat 2A 19 Shepherds Hill in June 2014. The tribunal concluded in accordance with section 48 and schedule 13 of the Leasehold Reform,Housing and Urban Development Act (the 1993 Act) that the premium payable in respect of the grant of a new lease for the Flat be £24,303 (twenty four thousand three hundred and three pounds) This case affected 1 flat. The unexpired lease term was 67.85 years.
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