I am on look out for some leasehold conveyancing in Emerson Park. Before diving in I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and almost all are in Emerson Park - 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 intending to let out my leasehold flat in Emerson Park. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Even though your last Emerson Park conveyancing lawyer is not around you can check your lease to see if you are permitted to let out the premises. The accepted inference is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you are obliged to seek consent via your landlord or some other party before subletting. The net result is that you cannot sublet without prior permission. The consent should not be unreasonably refused ore delayed. If the lease does not allow you to sublet you will need to ask your landlord for their consent.

Estate agents have just been given the go-ahead to market my garden flat in Emerson Park.Conveyancing is yet to be initiated but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?

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 until 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 tempted by the attractive purchase price for a couple of apartments in Emerson Park both have about forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

A lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the marketability of the lease deteriorate and it becomes more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area

I've recently bought a leasehold property in Emerson Park. Am I liable to pay service charges for periods before completion of my purchase?

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. 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 have had difficulty in negotiating a lease extension in Emerson Park. Can this matter be resolved via the Leasehold Valuation Tribunal?

if there is a absentee landlord or where there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to make a decision on the price payable.

An example of a Lease Extension decision for a Emerson Park property is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case related to 1 flat. The unexpired term was 57.5 years.

Leasehold Conveyancing in Emerson Park - Examples of Queries Prior to Purchasing

Generally speaking the outlay for major works tend not to be included within service charges, although some managing agents in Emerson Park ask tenants to pay into a reserve fund and this is used to offset against major repairs or maintenance.