Earls Court leasehold conveyancing Example Support Desk Enquiries
I am in need of some leasehold conveyancing in Earls Court. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and almost all are in Earls Court - then the leasehold title will always include the basic details 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 am hoping to complete next month on a studio apartment in Earls Court. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Earls Court should include some of the following:
- You should receive a copy of the lease
I have just appointed agents to market my 2 bed flat in Earls Court.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge demand – what should I do?
The sensible thing to do is clear the invoice 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. This will smooth the conveyancing process.
I am looking at a couple of apartments in Earls Court both have about fifty years remaining on the lease term. Will this present a problem?
A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and results in it becoming more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area
Last month I purchased a leasehold house in Earls Court. Do I have any liability for service charges for periods before completion of my purchase?
In a situation 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. 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).
Following months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Earls Court. Can we issue an application to the Residential Property Tribunal Service?
if there is a missing landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to make a decision on the price.
An example of a Freehold Enfranchisement decision for a Earls Court residence is 5 Wetherby Gardens in June 2014. the Tribunal concluded that the price to be paid for the freehold of the property was £2,369,452. This case was in relation to 5 flats. The the unexpired residue of the current lease was 38.98 years.