Recently asked questions relating to Stratford leasehold conveyancing
I am in need of some leasehold conveyancing in Stratford. Before I get started I would like to find out the remaining lease term.
If the lease is recorded at the land registry - and almost all are in Stratford - 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 own a leasehold flat in Stratford. Conveyancing and Norwich and Peterborough Building Society mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Stratford who acted for me is not around.Any advice?
First contact HMLR to make sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Stratford conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am a negotiator for a busy estate agent office in Stratford where we have experienced a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Stratford conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
An alternative approach is 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.
Can you offer any advice when it comes to finding a Stratford conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a Stratford conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Stratford conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- Can they put you in touch with client in Stratford who can give a testimonial?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £475000 maisonette in Stratford in just under a week. The management company has quoted £408 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Stratford?
Stratford conveyancing on leasehold apartments ordinarily results in administration charges raised by freeholders :
- Completing pre-exchange questions
- Where consent is required before sale in Stratford
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Stratford conveyancing firm to assist?
Most certainly. We are happy to put you in touch with a Stratford conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Stratford premises is 12 Nutfield Road in July 2014. the Tribunal judged that the price to be paid by the applicants for the freehold interest should be £19,572 This case related to 2 flats. The remaining number of years on the lease was 72.02 years.