Frequently asked questions relating to West Drayton leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in West Drayton. Before I set the wheels in motion I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and most are in West Drayton - 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.
Having checked my lease I have discovered that there are only 72 years left on my flat in West Drayton. I am keen to get lease extension but my freeholder is missing. What should I do?
If 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 enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to find the freeholder. On the whole a specialist may be useful to conduct investigations and prepare a report to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing West Drayton.
I have just started marketing my 2 bed apartment in West Drayton.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge 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 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 am attracted to a couple of maisonettes in West Drayton both have approximately fifty years unexpired on the lease term. should I be concerned?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease decreases and results in it becoming more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field
I work for a long established estate agent office in West Drayton where we have witnessed a few flat sales put at risk as a result of short leases. I have received inconsistent advice from local West Drayton conveyancing firms. Can you clarify whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
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 buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
An alternative approach is 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.
I have given up seeking a lease extension in West Drayton. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to arrive at the price.
An example of a Freehold Enfranchisement matter before the tribunal for a West Drayton residence is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case related to 2 flats. The the number of years remaining on the existing lease(s) was 69 years.