Examples of recent questions relating to leasehold conveyancing in Tower Hill
My partner and I may need to sub-let our Tower Hill garden flat for a while due to taking a sabbatical. We used a Tower Hill conveyancing practice in 2004 but they have closed and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?
Even though your last Tower Hill conveyancing lawyer is not around you can review your lease to see if you are permitted to let out the premises. The accepted inference is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you must obtain consent from your landlord or other appropriate person prior to subletting. This means you not allowed to sublet in the absence of first obtaining consent. Such consent is not allowed to be unreasonably refused ore delayed. If the lease prohibits you from subletting the property you should ask your landlord for their consent.
I have recently realised that I have 62 years left on my flat in Tower Hill. I am keen to get lease extension but my freeholder is absent. What are my options?
On the basis that 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 magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to locate the landlord. On the whole a specialist may be helpful to carry out a search and to produce an expert document which can be used as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s disappearance and the application to the County Court covering Tower Hill.
Planning to exchange soon on a leasehold property in Tower Hill. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Tower Hill should include some of the following:
- Does the lease prohibit wood flooring?
I have just started marketing my 2 bed apartment in Tower Hill.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge invoice – what should I do?
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 management companies 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. This will smooth the conveyancing process.
I own a second floor flat in Tower Hill. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the sum due for a lease extension?
You certainly can. We are happy to put you in touch with a Tower Hill conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Tower Hill residence is 1-41 Royal Tower Lodge 40 Cartwright Street in April 2013. the tribunal adding the agreed value of capitalised ground rents and the reversion the price to be paid for the freehold was £1,187,000 This case was in relation to 41 flats. The the unexpired term as at the valuation date was 107 years.
What makes a Tower Hill lease unacceptable for security purposes?
Leasehold conveyancing in Tower Hill is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the building
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, The Royal Bank of Scotland, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.