Kingston Vale leasehold conveyancing: Q and A’s
I’m about to sell my garden flat in Kingston Vale.Conveyancing has not commenced but I have just had a yearly maintenance charge demand – what should I do?
It best that you clear the service charge 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 managing agents will not acknowledge the buyer until 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've found a house that seems to tick a lot of boxes, 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 leasehold house in Kingston Vale. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Kingston Vale ?
The majority of houses in Kingston Vale are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Kingston Vale so you should seriously consider shopping around for a Kingston Vale conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’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 part of an estate. Your lawyer will advise you fully on all the issues.
Back In 2002, I bought a leasehold house in Kingston Vale. Conveyancing and Lloyds TSB Bank mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Kingston Vale who previously acted has now retired.What should I do?
First contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Kingston Vale 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 legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I've recently bought a leasehold house in Kingston Vale. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am employed by a busy estate agent office in Kingston Vale where we see a number of flat sales put at risk as a result of short leases. I have received contradictory information from local Kingston Vale conveyancing solicitors. Can you shed some light as to whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that 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 buyer 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 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 buyer.
I inherited a second floor flat in Kingston Vale. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the sum due for a lease extension?
in cases where there is a absentee landlord 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 arrive at the price payable.
An example of a Freehold Enfranchisement decision for a Kingston Vale residence is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case affected 3 flats. The unexpired lease term was 66.25 years.