Examples of recent questions relating to leasehold conveyancing in Golders Green
I only have 62 years unexpired on my flat in Golders Green. I need to extend my lease but my freeholder is absent. What are my options?
If you qualify, 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. You will be obliged to prove that you or your lawyers have used your best endeavours to track down the lessor. In some cases an enquiry agent would be useful to try and locate and prepare an expert document to be used as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s absence and the application to the County Court overseeing Golders Green.
Expecting to complete next month on a garden flat in Golders Green. Conveyancing lawyers have said that they report fully tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Golders Green should include some of the following:
- You should be sent a copy of the lease
I work for a busy estate agent office in Golders Green where we see a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Golders Green conveyancing firms. Can you shed some light as to whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, 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 buyer.
What are your top tips when it comes to finding a Golders Green conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Golders Green conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Golders Green conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- Can they put you in touch with client in Golders Green who can give a testimonial?
I own a second floor flat in Golders Green. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum due for a lease extension?
Where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the LVT to calculate the premium.
An example of a Lease Extension decision for a Golders Green premises is Flat A 372 Cricklewood Lane in January 2013. The Tribunal decided that the premium for the extended lease should be £5,750.00 and that the terms of the new lease should be those set out in annex to the decsion This case related to 1 flat.
What makes a Golders Green lease defective?
There is nothing unique about leasehold conveyancing in Golders Green. Most leases are individual and drafting errors can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Bank of Scotland, and TSB all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.