Questions and Answers: Gallows Corner leasehold conveyancing
I have recently realised that I have 62 years remaining on my lease in Gallows Corner. I need to extend my lease but my freeholder is absent. What should I do?
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 granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to find the freeholder. In some cases an enquiry agent may be useful to carry out a search and prepare a report to be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court covering Gallows Corner.
Due to sign contracts shortly on a ground floor flat in Gallows Corner. Conveyancing solicitors inform me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Gallows Corner should include some of the following:
- Does the lease require carpeting throughout thus preventing wood flooring?
I have just appointed agents to market my garden flat in Gallows Corner.Conveyancing lawyers have not yet been instructed but I have just received a yearly maintenance charge demand – 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.
I am attracted to a two apartments in Gallows Corner both have about forty five years remaining on the leases. Will this present a problem?
A lease is a right to use the premises for a period of time. As a lease shortens the value of the lease deteriorate and it becomes more expensive to extend the lease. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena
What advice can you give us when it comes to appointing a Gallows Corner conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Gallows Corner conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Gallows Corner conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:
- How experienced is the firm with lease extension legislation?
My wife and I have hit a brick wall in negotiating a lease extension in Gallows Corner. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We can put you in touch with a Gallows Corner conveyancing firm who can help.
An example of a Lease Extension case for a Gallows Corner 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 the number of years remaining on the existing lease(s) was 57.5 years.