Sample questions relating to East Sheen leasehold conveyancing
Harry (my fiance) and I may need to sub-let our East Sheen ground floor flat for a while due to a new job. We instructed a East Sheen conveyancing firm in 2001 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease permits subletting. How do we find out?
Notwithstanding that your previous East Sheen conveyancing solicitor is not around you can review your lease to check if you are permitted to let out the apartment. The accepted inference is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you need to obtain consent from your landlord or some other party prior to subletting. This means you not allowed to sublet without first obtaining permission. The consent must not not be unreasonably refused ore delayed. If your lease prohibits you from letting out the property you will need to ask your landlord if they are willing to waive this restriction.
Due to exchange soon on a ground floor flat in East Sheen. Conveyancing solicitors assured me that they report fully next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in East Sheen should include some of the following:
- You should be sent a copy of the lease
Last month I purchased a leasehold property in East Sheen. Am I liable to pay service charges relating to a period prior to my ownership?
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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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 work for a busy estate agency in East Sheen where we have witnessed a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local East Sheen conveyancing solicitors. Could you clarify whether the seller of a flat can initiate the lease extension process 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 has to be done before, or at the same time as completion of the sale.
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.
Despite our best efforts, we have been unsuccessful in trying to purchase the freehold in East Sheen. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We are happy to put you in touch with a East Sheen conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a East Sheen residence is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case affected 3 flats. The the number of years remaining on the existing lease(s) was 66.25 years.
In relation to leasehold conveyancing in East Sheen what are the most frequent lease defects?
There is nothing unique about leasehold conveyancing in East Sheen. Most leases is drafted differently and drafting errors can sometimes mean that certain provisions are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the building
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Leeds Building Society, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.
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