Sample questions relating to Maida Vale leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Maida Vale. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.
Assuming the lease is registered - and almost all are in Maida Vale - then the leasehold title will always include the short particulars 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.
Having checked my lease I have discovered that there are only 68 years remaining on my lease in Maida Vale. I am keen to extend my lease but my landlord is can not be found. 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 submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to find the landlord. In some cases an enquiry agent would be helpful to try and locate and prepare an expert document to be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Maida Vale.
Planning to complete next month on a ground floor flat in Maida Vale. Conveyancing solicitors assured me that they report fully tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Maida Vale should include some of the following:
- The physical extent of the demise. This will be the apartment itself but might include a loft or cellar if applicable.
I have just started marketing my 2 bed apartment in Maida Vale.Conveyancing has not commenced but I have just had a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you discharge the invoice 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 am a negotiator for a reputable estate agent office in Maida Vale where we see a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Maida Vale conveyancing firms. Can you shed some light as to 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 owned the lease 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. 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 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 purchaser.
I am the proprietor of a two-bedroom flat in Maida Vale. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
Absolutely. We can put you in touch with a Maida Vale conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal 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 affected 2 flats. The remaining number of years on the lease was 70.02 years.