Frequently asked questions relating to Old Coulsdon leasehold conveyancing
I have recently realised that I have Seventy years unexpired on my flat in Old Coulsdon. I am keen to get lease extension but my landlord is missing. What should I do?
If you qualify, 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 enable the lease to be lengthened by the Court. However, you will be required to prove that you have made all reasonable attempts to locate the landlord. On the whole a specialist should be useful to conduct investigations and to produce an expert document which can be used as proof that the landlord is indeed missing. It is wise to seek advice from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court covering Old Coulsdon.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Old Coulsdon. Conveyancing lawyers have not yet been appointed. Will they explain the issues?
Most houses in Old Coulsdon are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Old Coulsdon in which case you should be shopping around for a Old Coulsdon conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your conveyancer will advise you fully on all the issues.
I own a leasehold flat in Old Coulsdon. Conveyancing and Norwich and Peterborough Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Old Coulsdon who previously acted has long since retired.Do I pay?
First contact HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to instruct a Old Coulsdon conveyancing firm 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 no more than 6 years of rent can be collected.
I work for a long established estate agency in Old Coulsdon where we have witnessed a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Old Coulsdon conveyancing solicitors. Could you confirm whether the seller of a flat can start the lease extension formalities for the buyer?
As long as the seller has owned the lease 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. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with 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.
We expect to complete our sale of a £ 300000 maisonette in Old Coulsdon next week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Old Coulsdon?
For the majority of leasehold sales in Old Coulsdon conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-contract questions
- Where consent is required before sale in Old Coulsdon
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
After years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Old Coulsdon. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
You certainly can. We are happy to put you in touch with a Old Coulsdon conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Old Coulsdon residence is 223 Brighton Road in September 2013. The premium payable for the acquisition freehold of the properties should be £10,934 (Ten thousand,nine hundred and thirty four pounds) This case affected 3 flats. The the unexpired residue of the current lease was 75 years.
Old Coulsdon Leasehold Conveyancing - Sample of Questions you should ask Prior to Purchasing
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Make sure you find out if the the lease contains any unreasonable restrictions in the lease. For instance plenty of leases prohibit pets being allowed in certain buildings in Old Coulsdon. If you like the propertyin Old Coulsdon but your cat can’t live with you then you will be presented with a hard determination.
Most Old Coulsdon leasehold apartments will be liable to pay a service bill for the upkeep of the block set on behalf of the management company. If you purchase the apartment you will have to meet this charge, normally quarterly during the year. This may differ from two or three hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a ground rent to be met yearly, normally this is not a large amount, say about £50-£100 but you need to enquire as sometimes it can be many hundreds of pounds.