Top Five Questions relating to North Sheen leasehold conveyancing
I wish to rent out my leasehold flat in North Sheen. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Your lease governs the relationship between the freeholder and you the flat owner; specifically, it will say if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in North Sheen do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
I've found a house that seems to meet my requirements, at a great price which is making it all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in North Sheen. Conveyancing advisers have not yet been appointed. Will they explain the issues?
The majority of houses in North Sheen are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in North Sheen in which case you should be looking for a North Sheen conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your lawyer should advise you fully on all the issues.
Back In 2006, I bought a leasehold house in North Sheen. Conveyancing and Bank of Ireland mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing solicitor in North Sheen who previously acted has now retired.What should I do?
First make enquiries of HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a North Sheen conveyancing lawyer to do this as it can be done on-line for a few pound. 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.
Last month I purchased a leasehold house in North Sheen. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I work for a long established estate agent office in North Sheen where we have experienced a number of flat sales derailed as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local North Sheen conveyancing firms. Please can you shed some light as to whether the seller of a flat can initiate 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 buyer can avoid having to wait 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 at the same time as completion of the sale.
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.
Following years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in North Sheen. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a missing landlord or if there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to calculate the sum to be paid.
An example of a Lease Extension case for a North Sheen residence is Flat 1 30 Ennismore Avenue in September 2010. the Tribunal adopted and arrived at a premium for the lease extension of £29, 900 This case was in relation to 1 flat. The the unexpired residue of the current lease was 68.34 years.
North Sheen Leasehold Conveyancing - Examples of Questions you should consider Prior to Purchasing
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Be sure to investigate if there are any onerous prohibitions in the lease. For instance it is fairly common in North Sheen leases that pets are not permitted in certain buildings in North Sheen. If you like the flatin North Sheen yet your dog can’t move with you then you will be presented with a difficult determination.
In the main the outlay for major works are not included within maintenance charges, although a few managing agents in North Sheen require leaseholders to contribute towards a reserve fund and this is used to offset against larger repairs or maintenance.