Questions and Answers: Tottenham leasehold conveyancing
I am in need of some leasehold conveyancing in Tottenham. Before diving in I want to be sure as to the remaining lease term.
Assuming the lease is registered - and most are in Tottenham - 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.
Estate agents have just been given the go-ahead to market my ground floor flat in Tottenham.Conveyancing solicitors are to be appointed soon but I have just had a yearly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I own a leasehold house in Tottenham. Conveyancing and Platform Home Loans Ltd mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Tottenham who acted for me is not around.Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Tottenham conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful landlord, 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 Tottenham where we have experienced a number of leasehold sales put at risk due to short leases. I have received conflicting advice from local Tottenham conveyancing solicitors. Can you confirm whether the owner of a flat can start the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having 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.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.
What advice can you give us when it comes to appointing a Tottenham conveyancing practice to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Tottenham conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Tottenham 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 of use:
- If the firm is not ALEP accredited then what is the reason?
- What are the costs for lease extension work?
I am the registered owner of a ground floor flat in Tottenham. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?
Most definitely. We can put you in touch with a Tottenham conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Tottenham residence is 30 Strode Road in June 2013. Following a vesting order by Edmonton County Court on 20th February 2013 the Tribunal arrived at a valuation for enfranchisement of £10,256 for the premises (£4,074 for the Ground Floor Flat and £6182 for the First Floor Flat) and £100 for the appurtenant land. This case related to 2 flats. The unexpired term was 83.33 and 77.3.
Tottenham Conveyancing for Leasehold Flats - Examples of Questions you should consider before Purchasing