Common questions relating to Osidge leasehold conveyancing
I am in need of some leasehold conveyancing in Osidge. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and almost all are in Osidge - 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.
Helen (my wife) and I may need to rent out our Osidge ground floor flat for a while due to a career opportunity. We instructed a Osidge conveyancing practice in 2002 but they have closed and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?
Notwithstanding that your last Osidge conveyancing lawyer is no longer available you can review your lease to see if it allows you to sublet the apartment. The rule is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you are obliged to obtain permission via your landlord or some other party in advance of subletting. The net result is that you cannot sublet without first obtaining consent. Such consent is not allowed to be unreasonably turned down. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
I've recently bought a leasehold flat in Osidge. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee 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 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).
I work for a reputable estate agency in Osidge where we see a few flat sales derailed due to leases having less than 80 years remaining. I have been given conflicting advice from local Osidge conveyancing solicitors. Could you shed some light as to whether the owner of a flat can instigate the lease extension formalities for the buyer?
Provided that 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. The benefit of this is 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.
Alternatively, it may be possible 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 buyer.
We expect to complete the sale of our £450000 maisonette in Osidge in 8 days. The landlords agents has quoted £336 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Osidge?
Osidge conveyancing on leasehold maisonettes more often than not requires the buyer’s lawyer submitting questions for the landlord to address. Although the landlord is not legally bound to respond to such questions the majority will be content to assist. They are entitled levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some cases it is above £800. The management information fee levied by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, otherwise the charge is technically not due. Reality however dictates that one has little choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.
I inherited a basement flat in Osidge. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?
if there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to arrive at the price.
An example of a Freehold Enfranchisement case for a Osidge property is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case was in relation to 2 flats. The the unexpired term as at the valuation date was 70.31 years.