Examples of recent questions relating to leasehold conveyancing in Millbank
My partner and I may need to rent out our Millbank 1st floor flat temporarily due to a new job. We instructed a Millbank conveyancing practice in 2002 but they have closed and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Your lease governs the relationship between the landlord and you the leaseholder; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Millbank do not contain subletting altogether – such a provision would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
Due to complete next month on a ground floor flat in Millbank. Conveyancing lawyers have said that they will have a report out to me on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Millbank should include some of the following:
- Setting out your legal entitlements in respect of the communal areas in the block.E.G., does the lease grant a right of way over an accessway or hallways?
I work for a long established estate agent office in Millbank 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 Millbank conveyancing solicitors. Can you confirm whether the owner of a flat can initiate the lease extension formalities for the buyer?
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. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed 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 purchaser.
Can you provide any top tips for leasehold conveyancing in Millbank from the point of view of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Millbank can be bypassed where you instruct lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information needed by the buyers lawyers.
- The majority landlords or managing agents in Millbank charge for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Millbank.
Completion in due on the disposal of our £250000 maisonette in Millbank in just under a week. The management company has quoted £348 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Millbank?
For most leasehold sales in Millbank conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-contract enquiries
- Where consent is required before sale in Millbank
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I inherited a ground floor flat in Millbank. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
in cases where there is a missing landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to judgment on the price payable.
An example of a Lease Extension decision for a Millbank premises is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case related to 2 flats. The the number of years remaining on the existing lease(s) was 56 years.