Questions and Answers: Osidge leasehold conveyancing
Having checked my lease I have discovered that there are only 68 years left on my flat in Osidge. I now wish to get lease extension but my landlord is can not be found. What should I do?
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 granted an extra 90 years by the Court. You will be obliged to prove that you or your lawyers have made all reasonable attempts to find the landlord. On the whole an enquiry agent would be useful to try and locate and to produce a report which can be used as proof that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s disappearance and the application to the County Court covering Osidge.
Due to sign contracts shortly on a ground floor flat in Osidge. Conveyancing solicitors inform me that they report fully on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Osidge should include some of the following:
- The physical extent of the demise. This will be the property itself but might incorporate a loft or cellar if appropriate.
I am tempted by the attractive purchase price for a couple of maisonettes in Osidge which have in the region of 50 years unexpired on the lease term. Will this present a problem?
There are plenty of short leases in Osidge. The lease is a right to use the property for a period of time. As a lease shortens the saleability of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area
I've recently bought a leasehold house in Osidge. Do I have any liability for service charges relating to a period prior to my ownership?
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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).
We expect to complete our sale of a £275000 apartment in Osidge in six days. The managing agents has quoted £420 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Osidge?
Osidge conveyancing on leasehold apartments normally results in fees being levied by managing agents :
- Answering pre-exchange enquiries
- Where consent is required before sale in Osidge
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Following years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Osidge. 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 Osidge conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Osidge residence is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case related to 2 flats. The unexpired term was 70.31 years.