Frequently asked questions relating to Woodside leasehold conveyancing
I am in need of some leasehold conveyancing in Woodside. Before I get started I would like to find out the remaining lease term.
Assuming the lease is registered - 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.
I am hoping to complete next month on a ground floor flat in Woodside. Conveyancing lawyers inform me that they report fully on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Woodside should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have subsequently discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Woodside. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Woodside ?
Most houses in Woodside are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Woodside in which case you should be looking for a Woodside conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’spermission to conduct alterations. You may also be required to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your lawyer should appraise you on the various issues.
My wife and I purchased a leasehold house in Woodside. Conveyancing and Barclays Direct 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 demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Woodside who previously acted has now retired.Do I pay?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Woodside conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Last month I purchased a leasehold flat in Woodside. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Having spent years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Woodside. Can we issue an application to the Residential Property Tribunal Service?
if there is a missing freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to determine the amount due.
An example of a Lease Extension case for a Woodside premises 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 affected 1 flat. The the unexpired term as at the valuation date was 69.46 years.