Hampton leasehold conveyancing: Q and A’s
I am on look out for some leasehold conveyancing in Hampton. Before I get started I would like to find out the remaining lease term.
If the lease is recorded at the land registry - and most are in Hampton - 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 am intending to rent out my leasehold flat in Hampton. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
A small minority of properties in Hampton do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I have recently realised that I have Seventy years remaining on my flat in Hampton. I now wish to get lease extension but my freeholder is can not be found. What options are available to me?
If you qualify, 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 enable the lease to be granted an extra 90 years by the Court. However, you will be required to prove that you have done all that could be expected to track down the landlord. For most situations a specialist should be helpful to try and locate and prepare a report which can be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on investigating the landlord’s absence and the application to the County Court overseeing Hampton.
I am a negotiator for a long established estate agent office in Hampton where we have experienced a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Hampton conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can start the lease extension formalities 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. 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 needs to be completed prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible 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 advice can you give us when it comes to finding a Hampton conveyancing practice to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Hampton conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Hampton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- How familiar is the practice with lease extension legislation?
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Hampton conveyancing firm to help?
Where there is a missing landlord or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to decide the price.
An example of a Lease Extension matter before the tribunal for a Hampton property is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case related to 1 flat. The the unexpired term as at the valuation date was 82.93 years.