Examples of recent questions relating to leasehold conveyancing in Malden Rushett
I have just appointed agents to market my 2 bed apartment in Malden Rushett.Conveyancing is yet to be initiated but I have just had a quarterly service charge invoice – Do I pay up?
The sensible thing to do is clear 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 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. This will smooth the conveyancing process.
Back In 2001, I bought a leasehold house in Malden Rushett. Conveyancing and TSB 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 1994. The conveyancing solicitor in Malden Rushett who previously acted has long since retired.Do I pay?
First contact HMLR to be sure that this person is in fact the new freeholder. You do not need to instruct a Malden Rushett conveyancing practitioner to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I've recently bought a leasehold house in Malden Rushett. 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 owner 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 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 long established estate agent office in Malden Rushett where we have witnessed a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Malden Rushett conveyancing firms. Please can you shed some light as to whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?
As long as 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. The benefit of this is that the proposed purchaser need not have to wait 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 simultaneously with completion of the sale.
Alternatively, it may be possible 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.
If all goes to plan we aim to complete the sale of our £350000 maisonette in Malden Rushett in just under a week. The management company has quoted £396 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Malden Rushett?
For most leasehold sales in Malden Rushett conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering conveyancing due diligence questions
- Where consent is required before sale in Malden Rushett
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Malden Rushett conveyancing firm to act on my behalf?
in cases where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to assess the sum to be paid.
An example of a Lease Extension case for a Malden Rushett residence is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case related to 1 flat.
Other Topics