Frequently asked questions relating to Elmstead leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Elmstead. Before diving in I require certainty as to the unexpired term of the lease.
If the lease is recorded at the land registry - and most are in Elmstead - 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 would like to let out my leasehold apartment in Elmstead. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Your lease dictates the relationship between the landlord and you the leaseholder; specifically, it will say if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Elmstead do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
There are only 62 years remaining on my lease in Elmstead. I am keen to get lease extension but my landlord is missing. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to find the freeholder. On the whole a specialist would be helpful to carry out a search and to produce a report which can be used as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the application to the County Court covering Elmstead.
Completion in due on our sale of a £125000 maisonette in Elmstead in just under a week. The management company has quoted £348 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Elmstead?
Elmstead conveyancing on leasehold maisonettes more often than not necessitates the buyer’s lawyer sending questions for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries most will be content to do so. They are at liberty levy a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some situations it is in excess of £800. The management information fee demanded by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, without which the invoice is technically not due. Reality however dictates that you have little choice but to pay whatever is demanded if you want to exchange contracts with the buyer.
I inherited a first floor flat in Elmstead. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the sum due for the purchase of the freehold?
Most definitely. We can put you in touch with a Elmstead conveyancing firm who can help.
An example of a Lease Extension decision for a Elmstead premises is 70 Andace Park Gardens 133-149 Widmore Road in November 2013. Tribunal determined that the premium payable for the lease extension was £10,052 This case affected 1 flat. The unexpired term was 72 years.
When it comes to leasehold conveyancing in Elmstead what are the most frequent lease problems?
Leasehold conveyancing in Elmstead is not unique. All leases are individual and legal mistakes in the legal wording can result in certain provisions are wrong. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the premises
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, The Royal Bank of Scotland, and Alliance & Leicester all have very detailed 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 provide security, forcing the buyer to withdraw.