Petersham leasehold conveyancing Example Support Desk Enquiries
Having had my offer accepted I require leasehold conveyancing in Petersham. Before diving in I want to be sure as to the number of years remaining on the lease.
If the lease is registered - and almost all are in Petersham - 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.
Harry (my fiance) and I may need to sub-let our Petersham 1st floor flat temporarily due to a new job. We instructed a Petersham conveyancing firm in 2002 but they have closed and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Notwithstanding that your previous Petersham conveyancing solicitor is not available you can check your lease to check if it allows you to sublet the apartment. The rule is that if the lease is non-specific, subletting is allowed. There may be a precondition that you must obtain consent from your landlord or other appropriate person before subletting. The net result is you not allowed to sublet without first obtaining consent. The consent must not not be unreasonably turned down. If your lease prohibits you from subletting the property you should ask your landlord for their consent.
Having checked my lease I have discovered that there are only 62 years remaining on my lease in Petersham. I now want to extend my lease but my freeholder is absent. What options are available to me?
If you qualify, 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 enable the lease to be granted an extra 90 years by the Court. You will be obliged to prove that you have made all reasonable attempts to locate the lessor. On the whole a specialist may be useful to try and locate and prepare an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the vesting order request to the County Court covering Petersham.
Can you provide any advice for leasehold conveyancing in Petersham with the intention of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Petersham can be reduced where you instruct lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information needed by the buyers solicitors.
- Many landlords or managing agents in Petersham levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Petersham.
Following years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Petersham. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to make a decision on the amount due.
An example of a Lease Extension case for a Petersham property is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case was in relation to 1 flat. The unexpired lease term was 60.45 years.
What makes a Petersham lease unacceptable for security purposes?
Leasehold conveyancing in Petersham is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the property
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Skipton Building Society, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the purchaser to pull out.