Forestdale leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in Forestdale. Before diving in I require certainty as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and most are in Forestdale - 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.
My husband and I may need to sub-let our Forestdale ground floor flat temporarily due to taking a sabbatical. We used a Forestdale conveyancing firm in 2001 but they have since shut and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?
The lease dictates relations between the freeholder and you the flat owner; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Forestdale do not prevent subletting altogether – such a provision would adversely affect the market value the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
I am employed by a busy estate agent office in Forestdale where we see a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Forestdale conveyancing firms. Please can you shed some light as to whether the vendor of a flat can instigate the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
What advice can you give us when it comes to choosing a Forestdale conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Forestdale conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Forestdale conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- If they are not ALEP accredited then why not?
All being well we will complete the sale of our £425000 apartment in Forestdale in 5 days. The freeholder has quoted £324 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Forestdale?
Forestdale conveyancing on leasehold maisonettes more often than not involves the purchaser’s lawyer submitting questions for the landlord to address. Although the landlord is under no legal obligation to answer such questions the majority will be content to do so. They are entitled invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork 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 rights and obligations in relation to administration fees, otherwise the invoice is not strictly payable. Reality however dictates that one has little choice but to pay whatever is demanded if you want to sell the property.
After months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Forestdale. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We can put you in touch with a Forestdale conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Forestdale property is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case was in relation to 6 flats. The unexpired lease term was 78.32 years.