Shacklewell leasehold conveyancing: Q and A’s
I am in need of some leasehold conveyancing in Shacklewell. Before diving in I want to be sure as to the remaining lease term.
If the lease is registered - and almost all are in Shacklewell - then the leasehold title will always include the basic details 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 68 years unexpired on my flat in Shacklewell. I now wish to extend my lease but my freeholder is absent. What are my options?
On the basis that you meet the appropriate requirements, 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 magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to track down the landlord. For most situations a specialist would be helpful to try and locate and to produce a report which can be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on proving the landlord’s disappearance and the application to the County Court overseeing Shacklewell.
I am hoping to sign contracts shortly on a basement flat in Shacklewell. Conveyancing lawyers have said that they are sending me a report next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Shacklewell should include some of the following:
- Does the lease require carpeting throughout thus preventing wood flooring?
Last month I purchased a leasehold property in Shacklewell. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner 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. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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).
What advice can you give us when it comes to choosing a Shacklewell conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Shacklewell conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Shacklewell conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- How many lease extensions has the firm conducted in Shacklewell in the last year?
We have reached the end of our tether in trying to purchase the freehold in Shacklewell. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to calculate the amount due.
An example of a Lease Extension decision for a Shacklewell property is 5C Stoke Newington Road in April 2010. the Tribunal therefore concludes that the premium to be paid for the extended lease is £700.00 This case affected 1 flat. The the number of years remaining on the existing lease(s) was 80.5 years.