Sample questions relating to Lisson Grove leasehold conveyancing
I want to rent out my leasehold apartment in Lisson Grove. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
The lease governs the relationship between the freeholder and you the flat owner; specifically, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Lisson Grove do not prevent strict prohibition on subletting – such a clause would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
There are only Seventy years remaining on my lease in Lisson Grove. I now want to get lease extension but my landlord is absent. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to prove that you or your lawyers have made all reasonable attempts to track down the landlord. On the whole a specialist would be helpful to try and locate and to produce an expert document to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the application to the County Court overseeing Lisson Grove.
I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable figure which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Lisson Grove. Conveyancing advisers have are about to be instructed. Will they explain the issues?
The majority of houses in Lisson Grove are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Lisson Grove in which case you should be shopping around for a Lisson Grove conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As 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 upkeep of the estate where the house is located on an estate. Your solicitor should report to you on the legal implications.
Back In 2007, I bought a leasehold flat in Lisson Grove. Conveyancing and Platform Home Loans Ltd mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Lisson Grove who acted for me is not around.Do I pay?
First make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Lisson Grove conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Lisson Grove. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We can put you in touch with a Lisson Grove conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Lisson Grove property 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 affected 2 flats. The the unexpired term as at the valuation date was 24.02 years.
When it comes to leasehold conveyancing in Lisson Grove what are the most frequent lease defects?
Leasehold conveyancing in Lisson Grove is not unique. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the premises
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Skipton Building Society, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.