Common questions relating to Elmers End leasehold conveyancing
I am on look out for some leasehold conveyancing in Elmers End. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and almost all are in Elmers End - 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.
Having checked my lease I have discovered that there are only Seventy years remaining on my flat in Elmers End. I now want to extend my lease but my freeholder is can not be found. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to locate the freeholder. In some cases an enquiry agent would be useful to conduct investigations and to produce an expert document to be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Elmers End.
I am hoping to sign contracts shortly on a studio apartment in Elmers End. Conveyancing lawyers assured me that they report fully on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Elmers End should include some of the following:
- You should be sent a copy of the lease
I am looking at a couple of maisonettes in Elmers End which have approximately 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the value of the lease deteriorate and results in it becoming more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease extension can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this field
What are your top tips when it comes to finding a Elmers End conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Elmers End conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Elmers End conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:
- How familiar is the practice with lease extension legislation?
I own a ground-floor 1960’s flat in Elmers End. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?
Absolutely. We can put you in touch with a Elmers End conveyancing firm who can help.
An example of a Lease Extension case for a Elmers End flat is Flats 55, 67 & 70 Melbourne Court Anerley Road in July 2013. The tribunal calculated that the premium for the extended lease at £48,366.00 for at 55, and £88,329.00 for ats 67 and 70 combined. This case was in relation to 1 flat. The unexpired lease term was 26.38 years.
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