Top Five Questions relating to Seven Kings leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Seven Kings. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Seven Kings - 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 have recently realised that I have Seventy years remaining on my flat in Seven Kings. I need to extend my lease but my freeholder is missing. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to prove that you have done all that could be expected to locate the lessor. For most situations a specialist may be helpful to try and locate and prepare an expert document which can be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on proving the landlord’s absence and the application to the County Court covering Seven Kings.
Back In 2009, I bought a leasehold house in Seven Kings. Conveyancing and Skipton Building Society mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Seven Kings who previously acted has now retired.Do I pay?
The first thing you should do is make enquiries of HMLR 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 instruct a Seven Kings conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am looking at a couple of apartments in Seven Kings which have about forty five years left on the lease term. Will this present a problem?
There are plenty of short leases in Seven Kings. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease decreases and results in it becoming more expensive to extend the lease. For this reason it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this arena
Can you offer any advice when it comes to appointing a Seven Kings conveyancing firm to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Seven Kings conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Seven Kings conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:
- If the firm is not ALEP accredited then what is the reason?
- How many lease extensions have they carried out in Seven Kings in the last twenty four months?
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Seven Kings conveyancing firm to act on my behalf?
in cases where there is a missing freeholder or where there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to make a decision on the price.
An example of a Lease Extension decision for a Seven Kings property is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case was in relation to 1 flat. The unexpired lease term was 61.36 years.
Seven Kings Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to Purchasing
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Who takes charge for maintaining and repairing the building?