Sample questions relating to Mortlake leasehold conveyancing
I am on look out for some leasehold conveyancing in Mortlake. Before diving in I require certainty as to the unexpired term of the lease.
If the lease is recorded at the land registry - and most are in Mortlake - then the leasehold title will always include the basic details 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.
Helen (my wife) and I may need to rent out our Mortlake ground floor flat temporarily due to taking a sabbatical. We instructed a Mortlake conveyancing firm in 2002 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Some leases for properties in Mortlake do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I've found a house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have subsequently found out that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Mortlake. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?
Most houses in Mortlake are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Mortlake so you should seriously consider shopping around for a Mortlake conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your solicitor will advise you fully on all the issues.
My wife and I purchased a leasehold flat in Mortlake. Conveyancing and Norwich and Peterborough Building Society mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Mortlake who previously acted has long since retired.What should I do?
First contact HMLR to make sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Mortlake conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am employed by a long established estate agency in Mortlake where we see a few flat sales put at risk due to short leases. I have been given conflicting advice from local Mortlake conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can instigate the lease extension formalities for the buyer?
As long as 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. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as 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.
I am the proprietor of a second floor flat in Mortlake. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?
Absolutely. We can put you in touch with a Mortlake conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Mortlake premises is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case affected 3 flats. The the number of years remaining on the existing lease(s) was 66.25 years.
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