Frequently asked questions relating to Motspur Park leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Motspur Park. Before I set the wheels in motion I would like to find out the remaining lease term.
Assuming the lease is registered - and almost all are in Motspur Park - 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.
I’m about to sell my ground floor apartment in Motspur Park.Conveyancing has not commenced but I have just received a yearly maintenance charge invoice – what should I do?
The sensible thing to do is discharge 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.
I am employed by a busy estate agency in Motspur Park where we see a few leasehold sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Motspur Park conveyancing solicitors. 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?
Provided that 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. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as 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 Motspur Park conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a Motspur Park conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Motspur Park conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:
- If the firm is not ALEP accredited then what is the reason?
All being well we will complete our sale of a £150000 maisonette in Motspur Park next Thursday . The freeholder has quoted £324 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Motspur Park?
Motspur Park conveyancing on leasehold flats normally involves the buyer’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to answer such questions most will be willing to do so. They are at liberty invoice a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge required by the landlord must be sent together with a synopsis of rights and obligations in respect of administration charges, without which the invoice is technically not due. In reality you have little choice but to pay whatever is requested of you should you wish to sell the property.
Notwithstanding our best endeavours, we have been unsuccessful in trying to purchase the freehold in Motspur Park. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We are happy to put you in touch with a Motspur Park conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Motspur Park property is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 60.43 years.
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