Examples of recent questions relating to leasehold conveyancing in Oakleigh Park
Having checked my lease I have discovered that there are only Fifty years left on my flat in Oakleigh Park. I now wish to get lease extension but my freeholder is absent. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to prove that you have done all that could be expected to track down the lessor. For most situations an enquiry agent may be helpful to conduct investigations and to produce a report to be used as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s disappearance and the application to the County Court covering Oakleigh Park.
Planning to complete next month on a studio apartment in Oakleigh Park. Conveyancing solicitors assured me that they report fully next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Oakleigh Park should include some of the following:
- The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
I am a negotiator for a long established estate agency in Oakleigh Park where we have witnessed a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Oakleigh Park conveyancing firms. Can you clarify whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner 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. 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 needs to be completed prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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.
What advice can you give us when it comes to appointing a Oakleigh Park conveyancing firm to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Oakleigh Park conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Oakleigh Park conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:
- If they are not ALEP accredited then why not?
Do you have any advice for leasehold conveyancing in Oakleigh Park with the purpose of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Oakleigh Park can be reduced if you get in touch lawyers as soon as your agents start marketing the property and ask them to collate the leasehold documentation needed by the purchasers’ representatives.
- If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Oakleigh Park state that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord consenting to such works. Should you dont have the approvals in place do not communicate with the landlord without contacting your solicitor in advance.
I have given up trying to purchase the freehold in Oakleigh Park. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing landlord or if there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the amount due.
An example of a Lease Extension case for a Oakleigh Park flat is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case was in relation to 1 flat. The unexpired lease term was 76 years.