Questions and Answers: Maida Vale leasehold conveyancing
I would like to rent out my leasehold apartment in Maida Vale. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A lease governs relations between the freeholder and you the flat owner; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Maida Vale do not prevent subletting altogether – such a clause would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
I have just appointed agents to market my 2 bed apartment in Maida Vale.Conveyancing is yet to be initiated but I have just had a half-yearly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge 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 unless 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. This will smooth the conveyancing process.
I own a leasehold house in Maida Vale. Conveyancing and Accord Mortgages Ltd mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Maida Vale who previously acted has long since retired.Do I pay?
First make enquiries of HMLR to make sure that this person is indeed the new freeholder. It is not necessary to instruct a Maida Vale conveyancing solicitor to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Last month I purchased a leasehold property in Maida Vale. Do I have any liability for service charges relating to a period prior to my ownership?
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. A critical element of leasehold conveyancing for your conveyancer to be sure 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 a negotiator for a reputable estate agent office in Maida Vale where we see a few leasehold sales put at risk due to short leases. I have been given contradictory information from local Maida Vale conveyancing solicitors. Please can you confirm whether the vendor of a flat can instigate the lease extension process 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 start 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 to extend their lease. 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 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.
I inherited a ground floor flat in Maida Vale. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?
if there is a missing landlord or if there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to calculate the price.
An example of a Freehold Enfranchisement case for a Maida Vale residence is 4 & 4A Charteris Road in June 2009. the Tribunal held that the price to be paid for the enfranchisement of 4/4a Charteris Road to be £15,510 for at 4and £15,694 for at 4a This case related to 2 flats. The the unexpired residue of the current lease was 70.02 years.