Frequently asked questions relating to Riddlesdown leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Riddlesdown. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
Assuming the lease is registered - and 99.9% are in Riddlesdown - 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.
Due to sign contracts shortly on a leasehold property in Riddlesdown. Conveyancing solicitors inform me that they report fully tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Riddlesdown should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
My wife and I purchased a leasehold flat in Riddlesdown. Conveyancing and Chelsea Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Riddlesdown who acted for me is not around.What should I do?
First make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Riddlesdown conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am a negotiator for a reputable estate agency in Riddlesdown where we see a number of leasehold sales derailed due to short leases. I have been given contradictory information from local Riddlesdown conveyancing solicitors. Please can you clarify whether the vendor of a flat can start 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord 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.
Can you provide any advice for leasehold conveyancing in Riddlesdown from the perspective of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Riddlesdown can be avoided where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ lawyers.
- If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you installed wooden flooring? Most leases in Riddlesdown state that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord consenting to such changes. If you dont have the approvals to hand you should not contact the landlord without contacting your conveyancer before hand.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Riddlesdown conveyancing firm to represent me?
in cases where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to arrive at the price payable.
An example of a Freehold Enfranchisement decision for a Riddlesdown flat is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case was in relation to 6 flats. The the unexpired term as at the valuation date was 78.32 years.