Frequently asked questions relating to Kidbrooke leasehold conveyancing
My wife and I may need to rent out our Kidbrooke ground floor flat for a while due to a new job. We used a Kidbrooke conveyancing practice in 2001 but they have since shut and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?
Even though your previous Kidbrooke conveyancing lawyer is no longer around you can review your lease to see if it allows you to sublet the apartment. The rule is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you must seek consent from your landlord or some other party in advance of subletting. The net result is that you cannot sublet in the absence of first obtaining consent. Such consent should not be unreasonably withheld. If the lease prohibits you from subletting the property you will need to ask your landlord for their consent.
I am hoping to exchange soon on a leasehold property in Kidbrooke. Conveyancing solicitors inform me that they will have a report out to me on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Kidbrooke should include some of the following:
- Do you need to have carpet in the flat or are you allowed wood flooring?
I am employed by a reputable estate agent office in Kidbrooke where we have witnessed a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Kidbrooke conveyancing solicitors. Please can you clarify whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that 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 need not have 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 at the same time as 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 choosing a Kidbrooke conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Kidbrooke conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Kidbrooke 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 helpful:
- If the firm is not ALEP accredited then why not?
Do you have any top tips for leasehold conveyancing in Kidbrooke from the point of view of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Kidbrooke can be bypassed where you appoint lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold information needed by the buyers representatives.
- Many freeholders or Management Companies in Kidbrooke levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Kidbrooke.
I have given up trying to purchase the freehold in Kidbrooke. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We are happy to put you in touch with a Kidbrooke conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Kidbrooke premises is 18 Handen Road in April 2013. On 26 October 2012 District Judge Zimmels sitting at the Lambeth County Court made a Vesting Order that the Applicants be granted the right to acquire the freehold upon such terms and at such price determined by the LVT. The Tribunal arrived a figure of £39,535 as a valuation for the enfranchisement. This case related to 3 flats. The unexpired term was 69.05 years.