Top Five Questions relating to Edmonton leasehold conveyancing
I have recently realised that I have Fifty years unexpired on my flat in Edmonton. I am keen to get lease extension but my freeholder is can not be found. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to prove that you have done all that could be expected to track down the lessor. For most situations an enquiry agent should be useful to carry out a search and to produce an expert document which can be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Edmonton.
I have just started marketing my 2 bed flat in Edmonton.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am hoping to put an offer on a small detached house that seems to be perfect, at a great figure which is making it all the more appealing. I have since found out that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Edmonton. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
The majority of houses in Edmonton are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Edmonton so you should seriously consider shopping around for a Edmonton conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your solicitor will advise you fully on all the issues.
My wife and I purchased a leasehold house in Edmonton. Conveyancing and Yorkshire Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Edmonton who previously acted has long since retired.What should I do?
The first thing you should do is contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Edmonton conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I've recently bought a leasehold property in Edmonton. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee 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. 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 have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Edmonton conveyancing firm to assist?
Absolutely. We can put you in touch with a Edmonton conveyancing firm who can help.
An example of a Vesting Order and Purchase of freehold matter before the tribunal for a Edmonton premises is Ground Floor Flat 4A Baronet Road in February 2010. Following a vesting order by Edmonton County Court on 23rd December 2008 (case number 8ED064) the Tribunal decided that the price that the Applicant for the freehold interest should pay is £8,689.00 This case was in relation to 2 flats. The the unexpired term as at the valuation date was 80.01 years.