I am on look out for some leasehold conveyancing in Queensbury. Before I set the wheels in motion I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and most 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.

Planning to exchange soon on a leasehold property in Queensbury. Conveyancing lawyers assured me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Queensbury should include some of the following:

• How long the lease is You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark

I today plan to offer on a house that seems to be perfect, at a great figure which is making it all the more appealing. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Queensbury. Conveyancing advisers have are about to be instructed. Will they explain the issues?

The majority of houses in Queensbury are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Queensbury so you should seriously consider shopping around for a Queensbury conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your solicitor should report to you on the legal implications.

Back In 2005, I bought a leasehold flat in Queensbury. Conveyancing and Godiva Mortgages Ltd mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Queensbury who previously acted has now retired.What should I do?

The first thing you should do is contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Queensbury conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a couple of apartments in Queensbury which have about 50 years unexpired on the leases. Will this present a problem?

There is no doubt about it. A leasehold apartment in Queensbury is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the salability of the property. For most buyers and lenders, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Queensbury conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I own a two-bedroom flat in Queensbury. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?

in cases where there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the amount due.

An example of a Lease Extension decision for a Queensbury flat 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 related to 1 flat. The unexpired term was 71.55 years.

Other Topics

Lease Extensions in Queensbury