Examples of recent questions relating to leasehold conveyancing in Marks Gate
I am in need of some leasehold conveyancing in Marks Gate. Before diving in I require certainty as to the unexpired term of the lease.
If the lease is recorded at the land registry - and 99.9% are in Marks Gate - 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.
My wife and I may need to sub-let our Marks Gate garden flat temporarily due to a new job. We used a Marks Gate conveyancing practice in 2002 but they have closed and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?
Even though your previous Marks Gate conveyancing lawyer is not around you can check your lease to check if you are permitted to let out the premises. The rule is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you need to seek consent from your landlord or other appropriate person prior to subletting. The net result is that you cannot sublet without prior consent. The consent should not be unreasonably refused ore delayed. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
I am a negotiator for a reputable estate agent office in Marks Gate where we have experienced a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Marks Gate conveyancing solicitors. Please can you confirm whether the seller of a flat can commence 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 can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with 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 buyer.
Can you offer any advice when it comes to choosing a Marks Gate conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Marks Gate conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Marks Gate conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- How familiar is the practice with lease extension legislation?
Can you provide any top tips for leasehold conveyancing in Marks Gate with the intention of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Marks Gate can be avoided if you instruct lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ representatives.
- The majority freeholders or managing agents in Marks Gate charge for supplying management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Marks Gate.
I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Marks Gate conveyancing firm to act on my behalf?
Most definitely. We are happy to put you in touch with a Marks Gate conveyancing firm who can help.
An example of a Lease Extension case for a Marks Gate premises is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case affected 1 flat. The the number of years remaining on the existing lease(s) was 61.36 years.