Examples of recent questions relating to leasehold conveyancing in Kenton
I am hoping to put an offer on a small detached house that seems to be perfect, at a great price which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Kenton. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Kenton ?
The majority of houses in Kenton 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 buying in Kenton so you should seriously consider looking for a Kenton conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your conveyancer will advise you fully on all the issues.
I own a leasehold house in Kenton. Conveyancing and Aldermore mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Kenton who previously acted has long since retired.Do I pay?
First contact HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Kenton conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am attracted to a two maisonettes in Kenton both have about fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Kenton. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the value of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this arena
I work for a busy estate agent office in Kenton where we have experienced a few leasehold sales derailed as a result of short leases. I have been given conflicting advice from local Kenton conveyancing firms. Can you shed some light as to whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?
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. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
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 purchaser.
What advice can you give us when it comes to appointing a Kenton conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Kenton conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Kenton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:
- How familiar is the practice with lease extension legislation?
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Kenton conveyancing firm to assist?
if there is a missing landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to assess the price payable.
An example of a Freehold Enfranchisement case for a Kenton flat is 139/139A Masons Avenue in February 2010. this was a case with an absentee freeholder. As a result the leaseholders applied to Willesden County Court for an order dispensing with the giving of a notice of claim.14th October 2009 District Judge Brar granted a vesting order and the court directed that the matter should be transferred to this tribunal to determine the freehold premium. The tribunal concluded on a figure of £13,000 for the freehold interest This case was in relation to 1 flat. The remaining number of years on the lease was 74 years.