Top Five Questions relating to Freezywater leasehold conveyancing
I am on look out for some leasehold conveyancing in Freezywater. Before diving in I require certainty as to the remaining lease term.
If the lease is recorded at the land registry - and almost all are in Freezywater - then the leasehold title will always include the short particulars 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’m about to sell my garden apartment in Freezywater.Conveyancing is yet to be initiated but I have just received 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.
My wife and I purchased a leasehold flat in Freezywater. Conveyancing and Leeds Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Freezywater who previously acted has now retired.Do I pay?
The first thing you should do is contact HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to instruct a Freezywater conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am looking at a couple of flats in Freezywater which have about fifty years remaining on the lease term. Will this present a problem?
There are plenty of short leases in Freezywater. The lease is a right to use the premises for a period of time. As the lease shortens the saleability of the lease deteriorate and it becomes more expensive to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this area
What advice can you give us when it comes to finding a Freezywater conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Freezywater conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Freezywater conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:
- If they are not ALEP accredited then what is the reason?
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Freezywater conveyancing firm to help?
Most certainly. We can put you in touch with a Freezywater conveyancing firm who can help.
An example of a Vesting Order and Purchase of freehold matter before the tribunal for a Freezywater premises is Ground Floor Flat 4A Baronet Road in February 2010. Following a vesting order by Edmonton County Court on 23rd December 2008 (case number 8ED064) the Tribunal decided that the price that the Applicant for the freehold interest should pay is £8,689.00 This case was in relation to 2 flats. The remaining number of years on the lease was 80.01 years.