Sample questions relating to South Hornchurch leasehold conveyancing
I am on look out for some leasehold conveyancing in South Hornchurch. Before diving in I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and almost all are in South Hornchurch - 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.
My fiance and I may need to rent out our South Hornchurch garden flat for a while due to taking a sabbatical. We used a South Hornchurch conveyancing practice in 2003 but they have since shut and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?
The lease dictates the relationship between the freeholder and you the flat owner; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in South Hornchurch do not contain strict prohibition on subletting – such a clause would adversely affect the market value the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
Expecting to sign contracts shortly on a leasehold property in South Hornchurch. Conveyancing lawyers have said that they are sending me a report on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in South Hornchurch should include some of the following:
- Setting out your legal entitlements in respect of common areas in the building.For example, does the lease permit a right of way over a path or staircase?
I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in South Hornchurch. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in South Hornchurch ?
The majority of houses in South Hornchurch are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in South Hornchurch so you should seriously consider shopping around for a South Hornchurch conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer will appraise you on the various issues.
I've recently bought a leasehold property in South Hornchurch. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee 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. A critical element 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).
Having spent years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in South Hornchurch. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a missing landlord or where 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 First-tier Tribunal (Property Chamber) to decide the price.
An example of a Lease Extension decision for a South Hornchurch flat is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The the number of years remaining on the existing lease(s) was 57.5 years.