Questions and Answers: Queensbury leasehold conveyancing
I am in need of some leasehold conveyancing in Queensbury. Before diving in I require certainty as to the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Queensbury - 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 68 years remaining on my lease in Queensbury. I need to get lease extension but my landlord is can not be found. What should I do?
If 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 extended by the Court. You will be obliged to prove that you have used your best endeavours to track down the landlord. On the whole a specialist would be useful to conduct investigations and to produce a report which can be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Queensbury.
I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable figure which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Queensbury. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Queensbury ?
Most houses in Queensbury are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Queensbury so you should seriously consider shopping around for a Queensbury conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer will advise you fully on all the issues.
Last month I purchased a leasehold flat in Queensbury. Am I liable to pay service charges for periods before my ownership?
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 ensure 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).
Completion in due on the sale of our £250000 flat in Queensbury next Monday . The landlords agents has quoted £396 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Queensbury?
Queensbury conveyancing on leasehold flats often involves the buyer’s lawyer sending questions for the landlord to address. Although the landlord is not legally bound to address these enquiries most will be willing to assist. They are at liberty charge a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge required by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, without which the invoice is not strictly payable. In reality one has no option but to pay whatever is demanded if you want to sell the property.
My wife and I have hit a brick wall in trying to purchase the freehold in Queensbury. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a missing freeholder or if there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to make a decision on the premium.
An example of a Lease Extension decision for a Queensbury residence is 20 Orchard Court Stonegrove in June 2009. The tribunal decided that a premium of £11,040 should be payable for the new lease This case affected 1 flat. The the unexpired term as at the valuation date was 71.55 years.
Other Topics