Top Five Questions relating to Gallows Corner leasehold conveyancing
I have recently realised that I have 72 years unexpired on my flat in Gallows Corner. I am keen to extend my lease but my landlord is absent. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to locate the landlord. For most situations a specialist would be useful to try and locate and prepare an expert document to be used as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s absence and the application to the County Court covering Gallows Corner.
Estate agents have just been given the go-ahead to market my garden apartment in Gallows Corner.Conveyancing is yet to be initiated but I have just had a quarterly maintenance charge invoice – what should I do?
It best that you 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 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.
I today plan to offer on a house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Gallows Corner. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Gallows Corner ?
Most houses in Gallows Corner are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Gallows Corner in which case you should be shopping around for a Gallows Corner conveyancing practitioner and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer should report to you on the legal implications.
I am employed by a long established estate agent office in Gallows Corner where we see a few leasehold sales jeopardised as a result of short leases. I have received conflicting advice from local Gallows Corner conveyancing firms. Could you confirm whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner 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 buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 appointing a Gallows Corner conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Gallows Corner conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Gallows Corner conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- How many lease extensions have they completed in Gallows Corner in the last year?
I inherited a ground-floor 1960’s flat in Gallows Corner. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?
Where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the premium.
An example of a Lease Extension case for a Gallows Corner premises 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.