Dalston leasehold conveyancing Example Support Desk Enquiries
Having had my offer accepted I require leasehold conveyancing in Dalston. Before I set the wheels in motion I would like to find out the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in Dalston - 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.
I only have 68 years remaining on my lease in Dalston. I am keen to extend my lease but my freeholder is absent. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. However, you will be required to prove that you or your lawyers have done all that could be expected to locate the freeholder. On the whole an enquiry agent would be helpful to try and locate and to produce a report which can be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor both on investigating the landlord’s disappearance and the application to the County Court overseeing Dalston.
I have just appointed agents to market my basement flat in Dalston.Conveyancing has not commenced but I have just received a yearly service charge invoice – should I leave it to the buyer to sort out?
It best that you pay 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 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. Having a clear account will assist your cause and will leave you no worse off financially.
I've recently bought a leasehold house in Dalston. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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).
Do you have any top tips for leasehold conveyancing in Dalston with the purpose of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Dalston can be avoided where you instruct lawyers the minute you market your property and request that they start to put together the leasehold documentation which will be required by the purchasers’ representatives.
- The majority freeholders or Management Companies in Dalston levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Dalston.
Despite our best efforts, we have been unsuccessful in trying to purchase the freehold in Dalston. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We are happy to put you in touch with a Dalston conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Dalston residence is 150 Amhurst Road in December 2013. The tribunal concluded that the premium to be paid by the applicant for the enfranchisement of the subject property was £43,500. This case affected 4 flats. The the unexpired residue of the current lease was 90 (or thereabouts).