Common questions relating to Holland Park leasehold conveyancing
My partner and I may need to let out our Holland Park ground floor flat for a while due to a career opportunity. We used a Holland Park conveyancing firm in 2002 but they have closed and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?
Your lease dictates the relationship between the landlord and you the leaseholder; in particular, it will say if subletting is banned, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Holland Park do not prevent an absolute prevention of subletting – such a provision would adversely affect the market value the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
Looking forward to exchange soon on a studio apartment in Holland Park. Conveyancing lawyers assured me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Holland Park should include some of the following:
- You should be sent a copy of the lease
My wife and I purchased a leasehold house in Holland Park. Conveyancing and Nationwide Building Society mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Holland Park who previously acted has long since retired.Do I pay?
First make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Holland Park conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £400000 maisonette in Holland Park next Tuesday . The management company has quoted £300 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Holland Park?
For the majority of leasehold sales in Holland Park conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing conveyancing due diligence questions
- Where consent is required before sale in Holland Park
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
My wife and I have hit a brick wall in negotiating a lease extension in Holland Park. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Holland Park premises is 93 Oakwood Court in June 2010. the LVT determined that the premium to be paid for the new lease was £492,083, This case related to 1 flat. The the unexpired residue of the current lease was 37.79 years.
What makes a Holland Park lease problematic?
Leasehold conveyancing in Holland Park is not unique. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
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. National Westminster Bank, Skipton Building Society, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the purchaser to pull out.
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