Questions and Answers: Temple leasehold conveyancing
I am on look out for some leasehold conveyancing in Temple. Before diving in I would like to find out the unexpired term of the lease.
If the lease is recorded at the land registry - and 99.9% are in Temple - 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 Seventy years unexpired on my lease in Temple. I now wish to extend my lease but my landlord is missing. What should I do?
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 an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to prove that you have made all reasonable attempts to track down the landlord. For most situations a specialist would be useful to carry out a search and prepare an expert document which can be used as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Temple.
I today plan to offer on a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Temple. Conveyancing lawyers have not yet been appointed. Will they explain the issues?
Most houses in Temple are freehold and not 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 purchasing in Temple in which case you should be looking for a Temple conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority 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 such as obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your solicitor should appraise you on the various issues.
I own a leasehold flat in Temple. Conveyancing and Nottingham Building Society mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Temple who previously acted has now retired.Any advice?
First make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Temple conveyancing solicitor to do this as it can be done on-line 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.
What advice can you give us when it comes to finding a Temple conveyancing practice to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Temple conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Temple conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:
- How experienced is the practice with lease extension legislation?
- What are the charges for lease extension conveyancing?
I am the leaseholder of a ground-floor 1950’s flat in Temple. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
in cases where there is a missing landlord or if 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 judgment on the price.
An example of a Lease Extension case for a Temple flat is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case was in relation to 1 flat. The the unexpired term as at the valuation date was 66.8 years.
Temple Conveyancing for Leasehold Flats - Sample of Questions you should ask before Purchasing
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Please note if it is fewer than 80 years it will have adverse implications on the salability of the flat. Check with your mortgage company that they are willing to lend given the lease term. A short lease means that you will almost definitely have to extend the lease at some point and you need to have some idea of how much this will be. Remember, in most cases you will be be obliged to have owned the residence for a couple of years before you are eligible to exercise a lease extension.
Who takes charge for maintaining and repairing the building?