Examples of recent questions relating to leasehold conveyancing in Marylebone
Looking forward to complete next month on a ground floor flat in Marylebone. Conveyancing lawyers have said that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Marylebone should include some of the following:
- You should receive a copy of the lease
I today plan to offer on a house that seems to be perfect, at a great price which is making it all the more appealing. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Marylebone. Conveyancing advisers have not yet been instructed. Will they explain the issues?
Most houses in Marylebone are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Marylebone in which case you should be shopping around for a Marylebone conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your conveyancer should appraise you on the various issues.
My wife and I purchased a leasehold flat in Marylebone. Conveyancing and Norwich and Peterborough Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Marylebone who acted for me is not around.What should I do?
The first thing you should do is make enquiries of HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to incur the fees of a Marylebone conveyancing solicitor to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am a negotiator for a reputable estate agent office in Marylebone where we have witnessed a few flat sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Marylebone conveyancing solicitors. Can you confirm whether the owner of a flat can initiate the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-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 for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
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.
What are your top tips when it comes to choosing a Marylebone conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Marylebone conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Marylebone conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:
- Can they put you in touch with client in Marylebone who can give a testimonial?
After months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Marylebone. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We can put you in touch with a Marylebone conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Marylebone 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 related to 2 flats. The the unexpired term as at the valuation date was 24.02 years.
Other Topics