Sample questions relating to Emerson Park leasehold conveyancing
I would like to rent out my leasehold apartment in Emerson Park. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Even though your last Emerson Park conveyancing lawyer is not available you can check your lease to check if you are permitted to let out the property. The rule is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek consent via your landlord or some other party prior to subletting. This means you not allowed to sublet without prior consent. Such consent must not not be unreasonably refused ore delayed. If the lease prohibits you from letting out the property you will need to ask your landlord for their consent.
I only have Fifty years left on my flat in Emerson Park. I now wish to get lease extension but my freeholder is missing. What are my options?
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 extended by the magistrate. However, you will be required to prove that you or your lawyers have made all reasonable attempts to track down the landlord. For most situations a specialist may be useful to conduct investigations and to produce a report to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer both on proving the landlord’s absence and the vesting order request to the County Court covering Emerson Park.
I’m about to sell my garden flat in Emerson Park.Conveyancing has not commenced but I have just had a yearly service charge invoice – what should I do?
The sensible thing to do is discharge the service charge 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.
Do you have any top tips for leasehold conveyancing in Emerson Park from the perspective of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Emerson Park can be reduced if you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the buyers solicitors.
- Many landlords or managing agents in Emerson Park charge for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Emerson Park.
I am the registered owner of a basement flat in Emerson Park. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
in cases where there is a missing landlord or if there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the LVT to determine the amount due.
An example of a Lease Extension decision 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 related to 1 flat. The unexpired lease term was 57.5 years.
What makes a Emerson Park lease unacceptable for security purposes?
Leasehold conveyancing in Emerson Park is not unique. Most leases are unique and drafting errors can sometimes mean that certain provisions are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the property
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Norwich and Peterborough Building Society, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.