Examples of recent questions relating to leasehold conveyancing in Old Ford
I only have 62 years remaining on my lease in Old Ford. I now wish to extend my lease but my freeholder is missing. What are my options?
If 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 enable the lease to be extended by the Court. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to find the landlord. For most situations a specialist should be helpful to conduct investigations and to produce a report which can be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Old Ford.
Due to exchange soon on a leasehold property in Old Ford. Conveyancing lawyers assured me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Old Ford should include some of the following:
- You should receive a copy of the lease
My wife and I purchased a leasehold house in Old Ford. Conveyancing and Santander mortgage went though with no issue. 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 1994. The conveyancing solicitor in Old Ford who acted for me is not around.What should I do?
First contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to instruct a Old Ford conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Last month I purchased a leasehold house in Old Ford. Am I liable to pay service charges for periods before completion of my purchase?
In a situation 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. However, 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 reputable estate agent office in Old Ford where we have witnessed a number of leasehold sales derailed due to leases having less than 80 years remaining. I have received inconsistent advice from local Old Ford conveyancing firms. Please can you confirm whether the seller of a flat can commence the lease extension process for the buyer?
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 buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, 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.
Notwithstanding our best efforts, we have been unsuccessful in seeking a lease extension in Old Ford. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee freeholder or where there is disagreement 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 First-tier Tribunal (Property Chamber) to calculate the sum to be paid.
An example of a Freehold Enfranchisement matter before the tribunal for a Old Ford property 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.