Questions and Answers: Old Ford leasehold conveyancing
I am on look out for some leasehold conveyancing in Old Ford. Before I get started I would like to find out the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in Old Ford - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I wish to sublet my leasehold apartment in Old Ford. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Some leases for properties in Old Ford do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
Looking forward to complete next month on a garden flat in Old Ford. Conveyancing lawyers assured me that they are sending me a report within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Old Ford should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
I am attracted to a two flats in Old Ford both have in the region of fifty years unexpired on the lease term. Will this present a problem?
A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the marketability of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this field
What advice can you give us when it comes to appointing a Old Ford conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Old Ford conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Old Ford conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:
- How familiar is the firm with lease extension legislation?
I am the registered owner of a garden flat in Old Ford. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?
Most certainly. We are happy to put you in touch with a Old Ford conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Old Ford flat 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.