Woodside leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in Woodside. Before I get started I would like to find out the remaining lease term.
If the lease is recorded at the land registry - and most are in Woodside - 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.
My fiance and I may need to let out our Woodside 1st floor flat for a while due to taking a sabbatical. We used a Woodside conveyancing firm in 2001 but they have since shut and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?
Notwithstanding that your previous Woodside conveyancing lawyer is not around you can check your lease to see if you are permitted to let out the property. The rule is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you must obtain permission from your landlord or other appropriate person in advance of subletting. This means that you cannot sublet without first obtaining consent. The consent is not allowed to be unreasonably refused ore delayed. If your lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.
I am employed by a busy estate agency in Woodside where we have witnessed a few flat sales put at risk as a result of short leases. I have received conflicting advice from local Woodside conveyancing firms. Please can you confirm whether the owner of a flat can commence the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having 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 disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
Can you offer any advice when it comes to choosing a Woodside conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Woodside conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Woodside conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:
- How experienced is the practice with lease extension legislation?
All being well we will complete our sale of a £500000 maisonette in Woodside next Friday . The landlords agents has quoted £360 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Woodside?
Woodside conveyancing on leasehold maisonettes more often than not requires the purchaser’s conveyancer sending questions for the landlord to answer. Although the landlord is under no legal obligation to address such questions the majority will be willing to assist. They are at liberty charge a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The administration charge invoiced by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, otherwise the charge is technically not due. In reality you have little option but to pay whatever is requested of you if you want to exchange contracts with the buyer.
I have had difficulty in trying to purchase the freehold in Woodside. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to make a decision on the sum to be paid.
An example of a Lease Extension case for a Woodside property is Ground Floor Flat 14 Lodge Road in October 2013. the tribunal held that the price payable for the acquisition of the extended lease of the property should be £12,590 .00 This case related to 1 flat. The the unexpired term as at the valuation date was 69.46 years.
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