Common questions relating to Emerson Park leasehold conveyancing
I only have 62 years unexpired on my lease in Emerson Park. I now wish to get lease extension but my landlord is absent. What options are available to me?
If 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 mean that your lease can be extended by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to locate the lessor. In some cases a specialist may be useful to conduct investigations and prepare an expert document to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Emerson Park.
Looking forward to sign contracts shortly on a ground floor flat in Emerson Park. Conveyancing solicitors inform me that they will have a report out to me on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Emerson Park should include some of the following:
- You should be sent a copy of the lease
I have just appointed agents to market my 2 bed apartment in Emerson Park.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge invoice – Do I pay up?
It best that you pay 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 managing agents 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. This will smooth the conveyancing process.
If all goes to plan we aim to complete the sale of our £425000 garden flat in Emerson Park in just under a week. The managing agents has quoted £324 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Emerson Park?
Emerson Park conveyancing on leasehold flats more often than not involves the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is not legally bound to answer such questions the majority will be willing to do so. They may levy a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The administration charge levied by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration fees, otherwise the charge is not strictly payable. Reality however dictates that you have little option but to pay whatever is requested of you should you wish to sell the property.
Following years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Emerson Park. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We can put you in touch with a Emerson Park conveyancing firm who can help.
An example of a Lease Extension case for a Emerson Park residence 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 affected 1 flat. The the unexpired residue of the current lease was 57.5 years.
Are there frequently found deficiencies that you see in leases for Emerson Park properties?
Leasehold conveyancing in Emerson Park is not unique. All leases are unique and legal mistakes in the legal wording can result in certain clauses are wrong. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
You will encounter 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. Barclays , The Royal Bank of Scotland, and TSB all have very detailed conveyancing instructions 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 pull out.