Kensington leasehold conveyancing Example Support Desk Enquiries
I am in need of some leasehold conveyancing in Kensington. Before I set the wheels in motion I want to be sure as to the remaining lease term.
Assuming the lease is recorded at the land registry - and 99.9% are in Kensington - 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.
Expecting to exchange soon on a basement flat in Kensington. Conveyancing lawyers assured me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Kensington should include some of the following:
- Does the lease prohibit wood flooring?
I work for a long established estate agent office in Kensington where we have experienced a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Kensington conveyancing firms. Can you clarify whether the seller of a flat can start 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 kick-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 has to be done before, or at the same time as completion of the disposal of the property.
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 buyer.
What advice can you give us when it comes to appointing a Kensington conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Kensington conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Kensington conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:
- Can they put you in touch with client in Kensington who can give a testimonial?
We expect to complete the sale of our £350000 flat in Kensington on Wednesday in a week. The landlords agents has quoted £348 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Kensington?
Kensington conveyancing on leasehold flats usually involves administration charges raised by landlords agents :
- Addressing pre-exchange enquiries
- Where consent is required before sale in Kensington
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
After years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Kensington. Can we issue an application to the Residential Property Tribunal Service?
if there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to calculate the premium.
An example of a Lease Extension decision for a Kensington property 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 affected 1 flat. The unexpired term was 37.79 years.