Recently asked questions relating to Hackney Marshes leasehold conveyancing
Jane (my partner) and I may need to rent out our Hackney Marshes basement flat temporarily due to a new job. We used a Hackney Marshes conveyancing firm in 2001 but they have since shut and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Notwithstanding that your last Hackney Marshes conveyancing lawyer is no longer available you can check your lease to see if it allows you to sublet the premises. The rule is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you need to obtain permission from your landlord or some other party in advance of subletting. The net result is that you cannot sublet in the absence of prior consent. Such consent should not be unreasonably withheld. If the lease prohibits you from letting out the property you will need to ask your landlord for their consent.
Looking forward to complete next month on a garden flat in Hackney Marshes. Conveyancing solicitors have said 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 Hackney Marshes should include some of the following:
- You should be sent a copy of the lease
I today plan to offer on a house that appears to be perfect, at a great price which is making it all the more appealing. I have just found out that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Hackney Marshes. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Hackney Marshes ?
Most houses in Hackney Marshes are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Hackney Marshes so you should seriously consider shopping around for a Hackney Marshes conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your conveyancer will advise you fully on all the issues.
I am a negotiator for a reputable estate agent office in Hackney Marshes where we see a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Hackney Marshes conveyancing solicitors. Please can you clarify whether the seller of a flat can instigate the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 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 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.
What advice can you give us when it comes to appointing a Hackney Marshes conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Hackney Marshes conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Hackney Marshes conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:
- How experienced is the firm with lease extension legislation?
I am the registered owner of a first floor flat in Hackney Marshes. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium due for a lease extension?
in cases where there is a missing landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to determine the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a Hackney Marshes residence is 12 Nutfield Road in July 2014. the Tribunal judged that the price to be paid by the applicants for the freehold interest should be £19,572 This case related to 2 flats. The unexpired term was 72.02 years.