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Top Five Questions relating to Upton leasehold conveyancing

Due to complete next month on a studio apartment in Upton. Conveyancing solicitors assured me that they are sending me a report tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Upton should include some of the following:

  • You should receive a copy of the lease
  • The total extent of the demise. This will be the property itself but might include a roof space or basement if applicable.
  • Defining your legal entitlements in relation to the communal areas in the building.For instance, does the lease provide for a right of way over a path or staircase?
  • Does the lease prohibit wood flooring?
  • Will you be prohibited or prevented from having pets in the property?
  • Does the lease prevent you from letting out the flat, or working from home
  • You should have a good understanding of the insurance provisions For details of the information to be included in your report on your leasehold property in Upton please enquire of your solicitor in advance of your conveyancing in Upton

    • I have just appointed agents to market my ground floor flat in Upton.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge demand – Do I pay up?

    It best that you clear the service charge 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. This will smooth the conveyancing process.

    I own a leasehold flat in Upton. Conveyancing and Bank of Ireland mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Upton who previously acted has now retired.What should I do?

    First contact HMLR to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Upton conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I work for a long established estate agency in Upton where we have witnessed a few flat sales jeopardised as a result of short leases. I have been given inconsistent advice from local Upton conveyancing firms. Please can you clarify whether the owner of a flat can initiate 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 commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.

    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 purchaser.

    Can you provide any advice for leasehold conveyancing in Upton with the aim of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Upton can be reduced if you appoint lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation needed by the buyers conveyancers.
    • Many freeholders or managing agents in Upton charge for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Upton.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Upton leases often stipulate that internal structural changes or addition of wooden flooring require a licence from the Landlord acquiescing to such alterations. If you fail to have the approvals to hand you should not communicate with the landlord without contacting your conveyancer in advance.
  • If you hold a share in a the Management Company, you should make sure that you have the original share certificate. Arranging a duplicate share certificate can be a time consuming process and frustrates many a Upton conveyancing transaction. If a new share is necessary, you should approach the company officers or managing agents (where applicable) for this sooner rather than later.
  • You believe that you know the number of years remaining on your lease but it would be advisable double-check via your lawyers. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • I inherited a basement flat in Upton. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?

    Most certainly. We can put you in touch with a Upton conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal for a Upton premises is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case related to 13 flats. The unexpired term was 76 years.

    Other Topics

    Lease Extensions in Upton