Sample questions relating to Lisson Grove leasehold conveyancing
My partner and I may need to let out our Lisson Grove basement flat for a while due to a new job. We used a Lisson Grove conveyancing practice in 2004 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?
Even though your last Lisson Grove conveyancing solicitor is no longer available you can review your lease to see if it allows you to sublet the premises. The accepted inference is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you need to seek consent via your landlord or some other party prior to subletting. The net result is you not allowed to sublet without prior consent. Such consent is not allowed to be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
Looking forward to exchange soon on a ground floor flat in Lisson Grove. Conveyancing solicitors assured me that they report fully on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Lisson Grove should include some of the following:
- How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
I am a negotiator for a reputable estate agency in Lisson Grove where we see a number of leasehold sales jeopardised due to short leases. I have received contradictory information from local Lisson Grove conveyancing firms. Could you clarify whether the seller of a flat can instigate 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. The benefit of this is that the proposed purchaser need not have 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 prior to, or at the same time as completion of the sale.
Alternatively, it may be possible 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 purchaser.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £500000 garden flat in Lisson Grove in six days. The freeholder has quoted £384 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Lisson Grove?
For most leasehold sales in Lisson Grove conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing pre-contract questions
- Where consent is required before sale in Lisson Grove
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have tried to negotiate informally with with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Lisson Grove conveyancing firm to help?
if there is a absentee landlord or if there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to determine the premium.
An example of a Lease Extension decision for a Lisson Grove residence is Flats 37 & 39 88/90 Portland Place in December 2010. The Tribunal determined that the premium payable for the lease extensions in respect of these two flats is as follows:- For Flat 37, the sum of £385,230.00 For Flat 39, the sum of £436,780.00 This case related to 2 flats. The the unexpired residue of the current lease was 24.02 years.
In relation to leasehold conveyancing in Lisson Grove what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Lisson Grove. All leases is drafted differently and drafting errors can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the building
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Coventry Building Society, and Barclays Direct all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the buyer to withdraw.