Questions and Answers: Denmark Hill leasehold conveyancing
I am on look out for some leasehold conveyancing in Denmark Hill. Before I get started I want to be sure as to the unexpired term of the lease.
If the lease is registered - and most are in Denmark Hill - 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.
Looking forward to exchange soon on a leasehold property in Denmark Hill. Conveyancing solicitors inform me that they report fully within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Denmark Hill should include some of the following:
- You should receive a copy of the lease
Back In 2008, I bought a leasehold house in Denmark Hill. Conveyancing and Bank of Ireland mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Denmark Hill who previously acted has long since retired.Any advice?
The first thing you should do is contact HMLR to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Denmark Hill conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I work for a long established estate agent office in Denmark Hill where we have witnessed a few flat sales put at risk due to short leases. I have received inconsistent advice from local Denmark Hill conveyancing solicitors. Can you confirm whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start 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 sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £375000 maisonette in Denmark Hill next week. The management company has quoted £372 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Denmark Hill?
Denmark Hill conveyancing on leasehold apartments normally involves administration charges levied by landlords agents :
- Addressing pre-contract questions
- Where consent is required before sale in Denmark Hill
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Following years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Denmark Hill. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Absolutely. We can put you in touch with a Denmark Hill conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Denmark Hill property is 66 Southwell Road in March 2012. By Order of Deputy District Judge Stone dated 25 January 2012 a vesting order was made. The determination of the purchase price was referred to the Tribunal who decided that the amount payable for the freehold should be£29,612.00 This case affected 3 flats. The unexpired term was 72.58 years.