Questions and Answers: Pentonville leasehold conveyancing
My partner and I may need to sub-let our Pentonville basement flat temporarily due to a career opportunity. We used a Pentonville conveyancing firm in 2004 but they have closed and we did not have the foresight to seek any guidance as to whether the lease permits subletting. How do we find out?
The lease dictates the relationship between the freeholder and you the flat owner; specifically, it will say if subletting is banned, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Pentonville do not prevent strict prohibition on subletting – such a provision would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
I have recently realised that I have Seventy years unexpired on my flat in Pentonville. I need to get lease extension but my freeholder is absent. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to track down the landlord. For most situations a specialist should be helpful to conduct investigations and prepare a report which can be used as proof that the freeholder can not be located. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s absence and the application to the County Court covering Pentonville.
Expecting to complete next month on a garden flat in Pentonville. Conveyancing lawyers assured me that they will have a report out to me next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Pentonville should include some of the following:
- Setting out your legal entitlements in relation to the communal areas in the building.For instance, does the lease provide for a right of way over a path or hallways?
I have just appointed agents to market my garden apartment in Pentonville.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you clear 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 until 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.
I am employed by a reputable estate agency in Pentonville where we have witnessed a number of flat sales put at risk as a result of short leases. I have received contradictory information from local Pentonville conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can commence the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
An alternative approach is 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 purchaser.
My wife and I have hit a brick wall in trying to purchase the freehold in Pentonville. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We can put you in touch with a Pentonville conveyancing firm who can help.
An example of a Lease Extension case for a Pentonville residence is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case related to 1 flat. The unexpired term was 66.8 years.