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Petts Wood leasehold conveyancing: Q and A’s

Having checked my lease I have discovered that there are only Fifty years remaining on my lease in Petts Wood. I now want to get lease extension but my freeholder is can not be found. What should I do?

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 mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to prove that you have done all that could be expected to locate the lessor. In some cases a specialist would be helpful to try and locate and to produce an expert document to be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on proving the landlord’s absence and the application to the County Court covering Petts Wood.

Due to complete next month on a studio apartment in Petts Wood. Conveyancing lawyers inform me that they report fully on Monday. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Petts Wood should include some of the following:

  • You should be sent a copy of the lease
  • The total extent of the demise. This will be the flat itself but might incorporate a loft or basement if applicable.
  • Does the lease prohibit wood flooring?
  • You should be told what counts as a Nuisance in the lease
  • Whether your lease has a provision for a sinking fund?
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • What you can do if a neighbour is in violation of a provision in their lease? For details of the information to be contained in your report on your leasehold property in Petts Wood please enquire of your conveyancer in advance of your conveyancing in Petts Wood

    • Last month I purchased a leasehold flat in Petts Wood. Am I liable to pay service charges relating to a period prior to completion of my purchase?

    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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).

    What advice can you give us when it comes to appointing a Petts Wood conveyancing practice to carry out our lease extension conveyancing?

    If you are instructing a property lawyer for lease extension works (regardless if they are a Petts Wood conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Petts Wood conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

    • Can they put you in touch with client in Petts Wood who can give a testimonial?
  • What are the legal fees for lease extension work?

    • Can you provide any advice for leasehold conveyancing in Petts Wood from the point of view of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Petts Wood can be reduced if you get in touch lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information needed by the purchasers’ representatives.
    • The majority freeholders or Management Companies in Petts Wood levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Petts Wood.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Petts Wood state that internal structural changes or installing wooden flooring calls for a licence issued by the Landlord acquiescing to such works. If you fail to have the paperwork in place do not contact the landlord without checking with your solicitor before hand.
  • If there is a history of conflict with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be concerned about purchasing a property where a dispute is unresolved. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unresolved.
  • If you hold a share in a the freehold, you should ensure that you have the original share document. Obtaining a duplicate share certificate can be a lengthy formality and frustrates many a Petts Wood home move. Where a duplicate share certificate is required, you should approach the company director and secretary or managing agents (where applicable) for this sooner rather than later.

    • My wife and I have hit a brick wall in seeking a lease extension in Petts Wood. Can this matter be resolved via the Leasehold Valuation Tribunal?

    Where there is a missing landlord or where 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 arrive at the price payable.

    An example of a Lease Extension case for a Petts Wood property is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case was in relation to 1 flat. The remaining number of years on the lease was 50.57 years.

    Other Topics

    Lease Extensions in Petts Wood