Grahame Park leasehold conveyancing Example Support Desk Enquiries
I am on look out for some leasehold conveyancing in Grahame Park. Before diving in I would like to find out the unexpired term of the lease.
If the lease is registered - and 99.9% are in Grahame Park - 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 would like to let out my leasehold flat in Grahame Park. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Even though your previous Grahame Park conveyancing solicitor is no longer available you can check your lease to check if it allows you to sublet the property. The accepted inference is that if the lease is non-specific, subletting is allowed. There may be a precondition that you need to obtain permission via your landlord or other appropriate person in advance of subletting. The net result is that you cannot sublet without prior permission. Such consent is not allowed to be unreasonably turned down. If the lease prohibits you from subletting the property you will need to ask your landlord for their consent.
I have recently realised that I have 68 years remaining on my flat in Grahame Park. I now want to get lease extension but my freeholder is missing. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to track down the freeholder. For most situations a specialist may be helpful to conduct investigations and prepare a report which can be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Grahame Park.
I am looking at a two maisonettes in Grahame Park both have approximately 50 years remaining on the lease term. Do I need to be concerned?
There are no two ways about it. A leasehold flat in Grahame Park is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. For most purchasers and banks, leases with under 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Grahame Park conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I've recently bought a leasehold property in Grahame Park. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Having spent months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Grahame Park. Can we issue an application to the Residential Property Tribunal Service?
Absolutely. We can put you in touch with a Grahame Park conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Grahame Park premises is 1 & 1A Sunningfields Crescent in September 2013. The Tribunals calculation of the amount to be paid into court in respect of the value of the freehold interest is £11,997 in respect of Flat 1 and £15,781 in respect of Flat 1A for a total of £27,778. This case affected 2 flats. The the number of years remaining on the existing lease(s) was 71.5 years.
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