Top Five Questions relating to Sands End leasehold conveyancing
Jane (my partner) and I may need to sub-let our Sands End ground floor flat for a while due to a new job. We used a Sands End conveyancing practice in 2001 but they have closed and we did not have the foresight to seek any guidance as to whether the lease allows us to sublet. How do we find out?
The lease governs the relationship between the landlord and you the leaseholder; in particular, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Sands End do not contain subletting altogether – such a provision would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
Having checked my lease I have discovered that there are only Fifty years remaining on my lease in Sands End. I am keen to extend my lease but my freeholder is missing. 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 an order 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. You will be obliged to demonstrate that you have made all reasonable attempts to locate the landlord. In some cases an enquiry agent would be helpful to try and locate and to produce an expert document to be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court covering Sands End.
Expecting to exchange soon on a basement flat in Sands End. Conveyancing lawyers inform me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Sands End should include some of the following:
- Defining your legal entitlements in respect of the communal areas in the building.For instance, does the lease include a right of way over an accessway or staircase?
Back In 2009, I bought a leasehold flat in Sands End. Conveyancing and TSB mortgage are in place. I have received a letter 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 practitioner in Sands End who acted for me is not around.Any advice?
The first thing you should do is contact the Land Registry to be sure that this person is in fact the new freeholder. You do not need to incur the fees of a Sands End conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that in any event, 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 attracted to a two apartments in Sands End which have approximately 50 years left on the leases. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the saleability of the lease deteriorate and it becomes more expensive to extend the lease. This is why it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area
Having spent months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Sands End. Can we issue an application to the Residential Property Tribunal Service?
Absolutely. We can put you in touch with a Sands End conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Sands End premises is 29 Sisters Avenue in April 2013. The Tribunal camme to the conclusion that the entire freehold should be transferred by the landlord to the nominee purchaser. The price to be paid was the sum of £53,527. This had been arrived at by applying a deferment rate of 5.25% to the freehold reversion and relativity of 95.4% to the leasehold values. This case was in relation to 4 flats. The the number of years remaining on the existing lease(s) was 85.78 years.