Questions and Answers: Grange Park leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Grange Park. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and almost all are in Grange Park - then the leasehold title will always include the basic details 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.
My husband and I may need to rent out our Grange Park ground floor flat temporarily due to taking a sabbatical. We instructed a Grange Park conveyancing firm in 2003 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?
Notwithstanding that your last Grange Park conveyancing solicitor is no longer available you can check your lease to see if you are permitted to let out the premises. The rule is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you must seek consent via your landlord or some other party in advance of subletting. The net result is you not allowed to sublet in the absence of prior consent. Such consent must not not be unreasonably turned down. If your lease prohibits you from letting out the property you will need to ask your landlord if they are willing to waive this restriction.
Looking forward to complete next month on a studio apartment in Grange Park. Conveyancing solicitors assured me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Grange Park should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
I work for a long established estate agency in Grange Park where we have experienced a number of flat sales derailed due to short leases. I have been given inconsistent advice from local Grange Park conveyancing firms. Can you shed some light as to whether the owner of a flat can start the lease extension process for the buyer?
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. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
An alternative approach is 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.
We expect to complete the sale of our £225000 flat in Grange Park on Thursday in a week. The managing agents has quoted £300 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Grange Park?
Grange Park conveyancing on leasehold flats normally necessitates administration charges raised by freeholders :
- Addressing conveyancing due diligence questions
- Where consent is required before sale in Grange Park
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the proprietor of a ground-floor 1950’s flat in Grange Park. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?
Most definitely. We are happy to put you in touch with a Grange Park conveyancing firm who can help.
An example of a Lease Extension case for a Grange Park residence is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case affected 1 flat. The the number of years remaining on the existing lease(s) was 81.79 years.
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