Examples of recent questions relating to leasehold conveyancing in Kingsbury
I am on look out for some leasehold conveyancing in Kingsbury. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and 99.9% are in Kingsbury - then the leasehold title will always include the basic details 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 apartment in Kingsbury. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Some leases for properties in Kingsbury do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I am hoping to sign contracts shortly on a studio apartment in Kingsbury. Conveyancing solicitors assured me that they are sending me a report next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Kingsbury should include some of the following:
- The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
I am a negotiator for a busy estate agency in Kingsbury where we have experienced a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local Kingsbury conveyancing solicitors. Please can you confirm whether the owner of a flat can instigate the lease extension process for the buyer?
As long as the seller has owned the lease 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 wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
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 are your top tips when it comes to choosing a Kingsbury conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Kingsbury conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Kingsbury conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- Can they put you in touch with client in Kingsbury who can give a testimonial?
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Kingsbury conveyancing firm to assist?
You certainly can. We are happy to put you in touch with a Kingsbury conveyancing firm who can help.
An example of a Lease Extension decision for a Kingsbury premises is 27B Hillside in February 2010. the resulting premium, all other aspects of the valuation having been agreed between the parties was set at £8,250 This case affected 1 flat. The the unexpired residue of the current lease was 70.25 years.