Sample questions relating to Southgate leasehold conveyancing
I want to let out my leasehold flat in Southgate. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
The lease governs the relationship between the freeholder and you the flat owner; specifically, it will set out if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Southgate do not contain subletting altogether – such a clause 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.
I have recently realised that I have 68 years unexpired on my flat in Southgate. I now wish to extend my lease but my landlord is missing. What should I do?
If you meet the appropriate requirements, 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 mean that your lease can be lengthened by the Court. However, you will be required to prove that you or your lawyers have used your best endeavours to find the landlord. In some cases an enquiry agent should be useful to conduct investigations and to produce a report to be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on proving the landlord’s absence and the vesting order request to the County Court overseeing Southgate.
Looking forward to exchange soon on a garden flat in Southgate. Conveyancing solicitors 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 Southgate should include some of the following:
- Defining your legal entitlements in respect of the communal areas in the building.E.G., does the lease include a right of way over an accessway or hallways?
I am attracted to a couple of maisonettes in Southgate both have in the region of 50 years left on the leases. Will this present a problem?
There are plenty of short leases in Southgate. The lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the saleability of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease extension can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field
I work for a long established estate agency in Southgate where we have witnessed a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given conflicting advice from local Southgate conveyancing firms. Could you clarify whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease 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 has to be done prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible 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.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Southgate conveyancing firm to help?
You certainly can. We are happy to put you in touch with a Southgate conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Southgate premises is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case was in relation to 2 flats. The unexpired term was 70.31 years.