Questions and Answers: Park Royal leasehold conveyancing
I am in need of some leasehold conveyancing in Park Royal. Before diving in I require certainty as to the number of years remaining on the lease.
If the lease is registered - and most are in Park Royal - then the leasehold title will always include the basic details 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.
Planning to sign contracts shortly on a studio apartment in Park Royal. Conveyancing lawyers inform me that they report fully next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Park Royal should include some of the following:
- The physical extent of the demise. This will be the apartment itself but could also incorporate a loft or cellar if appropriate.
I have just started marketing my ground floor flat in Park Royal.Conveyancing solicitors are to be appointed soon but I have just had a quarterly maintenance charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Back In 2006, I bought a leasehold house in Park Royal. Conveyancing and Virgin Money mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Park Royal who acted for me is not around.Do I pay?
First contact the Land Registry to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Park Royal conveyancing solicitor to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am tempted by the attractive purchase price for a couple of apartments in Park Royal which have in the region of 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease decreases and it becomes more costly to extend the lease. For this reason it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage companies 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 arena
Following months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Park Royal. Can we issue an application to the Residential Property Tribunal Service?
Absolutely. We are happy to put you in touch with a Park Royal conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Park Royal flat is 99 Connell Crescent in May 2013. the Tribunal held that the relevant sum for the purposes of the lease extension should be £72,566 to be paid by the leaseholder This case was in relation to 1 flat. The the unexpired residue of the current lease was 28.42 years.