Nag's Head leasehold conveyancing Example Support Desk Enquiries
I have recently realised that I have 62 years unexpired on my lease in Nag's Head. I need to get lease extension but my freeholder is can not be found. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to find the freeholder. In some cases a specialist would be helpful to try and locate and to produce a report which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on investigating the landlord’s disappearance and the application to the County Court overseeing Nag's Head.
I have just appointed agents to market my garden flat in Nag's Head.Conveyancing has not commenced but I have just received a half-yearly service charge demand – should I leave it to the buyer to sort out?
It best that you 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Nag's Head. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?
Most houses in Nag's Head are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Nag's Head so you should seriously consider shopping around for a Nag's Head conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your lawyer will appraise you on the various issues.
My wife and I purchased a leasehold flat in Nag's Head. Conveyancing and HSBC Bank mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Nag's Head who acted for me is not around.Do I pay?
First contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Nag's Head conveyancing practitioner to do this as it can be done on-line for £3. Rest assured 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.
Following years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Nag's Head. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Absolutely. We can put you in touch with a Nag's Head conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Nag's Head property is 51 Lorne Road in November 2009. The price Payable as decided by the tribunal for the freehold reversion was £27,000. The valuation follows the order of the County Court made on 3 April 2008 granting a vesting order. This case related to 1 flat. The remaining number of years on the lease was 71 years.
In relation to leasehold conveyancing in Nag's Head what are the most common lease defects?
Leasehold conveyancing in Nag's Head is not unique. Most leases are unique and drafting errors can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the premises
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Virgin Money, and Clydesdale all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.