Recently asked questions relating to West Heath leasehold conveyancing
Looking forward to exchange soon on a leasehold property in West Heath. Conveyancing solicitors assured me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in West Heath should include some of the following:
- How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
Back In 2005, I bought a leasehold house in West Heath. Conveyancing and Birmingham Midshires mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1991. The conveyancing practitioner in West Heath who acted for me is not around.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. It is not necessary to instruct a West Heath conveyancing firm to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I work for a reputable estate agent office in West Heath where we see a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local West Heath conveyancing solicitors. Could you confirm whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease 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 needs to be completed before, or at the same time as 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 offer any advice when it comes to appointing a West Heath conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a West Heath conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non West Heath conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- What volume of lease extensions has the firm carried out in West Heath in the last year?
Can you provide any top tips for leasehold conveyancing in West Heath from the point of view of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in West Heath can be bypassed where you get in touch lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold information needed by the buyers lawyers.
- Many landlords or Management Companies in West Heath levy fees for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in West Heath.
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a West Heath conveyancing firm to help?
Most certainly. We can put you in touch with a West Heath conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a West Heath property 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 affected 13 flats. The remaining number of years on the lease was 76 years.