Examples of recent questions relating to leasehold conveyancing in Nag's Head
I only have 68 years unexpired on my lease in Nag's Head. I now wish to get lease extension but my freeholder is missing. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to demonstrate that you have used your best endeavours to track down the landlord. In some cases a specialist may be useful to carry out a search and prepare an expert document to be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s disappearance and the application to the County Court covering Nag's Head.
Planning to exchange soon on a basement flat in Nag's Head. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Nag's Head should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
Back In 2001, I bought a leasehold flat in Nag's Head. Conveyancing and Barclays mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Nag's Head who acted for me is not around.What should I do?
The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Nag's Head conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I work for a long established estate agency in Nag's Head where we see a number of leasehold sales jeopardised due to short leases. I have been given conflicting advice from local Nag's Head conveyancing solicitors. Please can you confirm whether the owner of a flat can start 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 commence 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 has to be done prior to, or simultaneously with 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 purchaser.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £175000 apartment in Nag's Head in 8 days. The landlords agents has quoted £360 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Nag's Head?
Nag's Head conveyancing on leasehold maisonettes usually results in administration charges raised by managing agents :
- Addressing pre-exchange enquiries
- Where consent is required before sale in Nag's Head
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Nag's Head conveyancing firm to act on my behalf?
Absolutely. We are happy to put you in touch with a Nag's Head conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Nag's Head residence 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 affected 1 flat. The the unexpired residue of the current lease was 71 years.