Questions and Answers: Park Royal leasehold conveyancing
I am on look out for some leasehold conveyancing in Park Royal. Before I get started I want to be sure as to the unexpired term of the lease.
If the lease is recorded at the land registry - and almost all are in Park Royal - 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 only have Sixty One years unexpired on my lease in Park Royal. I need to extend my lease but my landlord is absent. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to locate the landlord. For most situations a specialist would be helpful to carry out a search and prepare an expert document to be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Park Royal.
I am hoping to complete next month on a leasehold property in Park Royal. Conveyancing solicitors have said that they are sending me a report on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Park Royal should include some of the following:
- How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
I today plan to offer on a house that appears to be perfect, at a reasonable price which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Park Royal. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Park Royal ?
The majority of houses in Park Royal are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Park Royal in which case you should be shopping around for a Park Royal conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’spermission to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer should appraise you on the various issues.
Completion in due on the sale of our £225000 maisonette in Park Royal next Monday . The managing agents has quoted £336 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Park Royal?
Park Royal conveyancing on leasehold apartments more often than not requires the buyer’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries most will be content to assist. They are at liberty charge a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee required by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, otherwise the invoice is not strictly payable. In reality one has little option but to pay whatever is demanded should you wish to exchange contracts with the buyer.
Having spent months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Park Royal. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to determine the premium.
An example of a Lease Extension decision for a Park Royal premises 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 related to 1 flat. The the unexpired term as at the valuation date was 28.42 years.