Dartmouth Park leasehold conveyancing: Q and A’s
My fiance and I may need to let out our Dartmouth Park basement flat for a while due to taking a sabbatical. We instructed a Dartmouth Park conveyancing firm in 2004 but they have since shut and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?
Even though your previous Dartmouth Park conveyancing solicitor is no longer available you can check your lease to check if it allows you to sublet the apartment. The accepted inference is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you must obtain consent from your landlord or some other party in advance of subletting. The net result is you not allowed to sublet in the absence of first obtaining consent. Such consent must not not be unreasonably refused ore delayed. If your lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
Planning to sign contracts shortly on a ground floor flat in Dartmouth Park. Conveyancing lawyers inform 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 Dartmouth Park should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
I've found a house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Dartmouth Park. Conveyancing advisers have not yet been appointed. Will they explain the issues?
Most houses in Dartmouth Park are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Dartmouth Park so you should seriously consider shopping around for a Dartmouth Park conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your lawyer will advise you fully on all the issues.
I am looking at a two maisonettes in Dartmouth Park both have in the region of forty five years remaining on the lease term. Will this present a problem?
There are no two ways about it. A leasehold flat in Dartmouth Park is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the property. The majority of purchasers and lenders, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Dartmouth Park conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Completion in due on the disposal of our £300000 garden flat in Dartmouth Park in just under a week. The managing agents has quoted £408 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Dartmouth Park?
For most leasehold sales in Dartmouth Park conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing conveyancing due diligence enquiries
- Where consent is required before sale in Dartmouth Park
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
After months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Dartmouth Park. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We are happy to put you in touch with a Dartmouth Park conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Dartmouth Park residence is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case was in relation to 1 flat. The the unexpired term as at the valuation date was 64.77 years.