Examples of recent questions relating to leasehold conveyancing in Old Ford
There are only 62 years left on my flat in Old Ford. I need to extend my lease but my freeholder is missing. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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. You will be obliged to prove that you or your lawyers have made all reasonable attempts to track down the freeholder. In some cases a specialist should be helpful to conduct investigations and prepare an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on investigating the landlord’s disappearance and the vesting order request to the County Court covering Old Ford.
I today plan to offer on a house that seems to meet my requirements, at a great price which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Old Ford. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Old Ford ?
Most houses in Old Ford 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. it is apparent that you are purchasing in Old Ford in which case you should be shopping around for a Old Ford conveyancing practitioner and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your solicitor should appraise you on the various issues.
I own a leasehold house in Old Ford. Conveyancing and Nottingham Building Society mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Old Ford who acted for me is not around.Do I pay?
First contact HMLR to make sure that this person is in fact the new freeholder. There is no need to instruct a Old Ford conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I've recently bought a leasehold house in Old Ford. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner 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 ensure 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).
Do you have any top tips for leasehold conveyancing in Old Ford from the point of view of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Old Ford can be bypassed where you instruct lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation needed by the purchasers’ lawyers.
- The majority landlords or Management Companies in Old Ford levy fees for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Old Ford.
I am the registered owner of a two-bedroom flat in Old Ford. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?
if there is a missing landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to judgment on the price.
An example of a Freehold Enfranchisement matter before the tribunal for a Old Ford residence is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.