Frequently asked questions relating to Isle of Dogs leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Isle of Dogs. Before I get started I want to be sure as to the remaining lease term.
If the lease is registered - and most are in Isle of Dogs - 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 sublet my leasehold flat in Isle of Dogs. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
The lease dictates the relationship between the freeholder and you the leaseholder; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Isle of Dogs do not contain strict prohibition on subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
I’m about to sell my basement flat in Isle of Dogs.Conveyancing is yet to be initiated but I have just received a half-yearly service charge demand – Do I pay up?
It best that you pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I am a negotiator for a busy estate agent office in Isle of Dogs where we see a few flat sales put at risk due to short leases. I have received conflicting advice from local Isle of Dogs conveyancing firms. Could you shed some light as to whether the owner of a flat can start the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-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 sit tight for 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 simultaneously with completion of the sale.
An alternative approach is 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.
All being well we will complete the disposal of our £150000 flat in Isle of Dogs on Friday in a week. The freeholder has quoted £384 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Isle of Dogs?
Isle of Dogs conveyancing on leasehold maisonettes typically involves administration charges invoiced by freeholders :
- Completing pre-exchange questions
- Where consent is required before sale in Isle of Dogs
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
After months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Isle of Dogs. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We can put you in touch with a Isle of Dogs conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Isle of Dogs property is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case was in relation to 3 flats. The unexpired lease term was 101.61 years.
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