Woodside Park leasehold conveyancing: Q and A’s
I am on look out for some leasehold conveyancing in Woodside Park. Before diving in I want to be sure as to the remaining lease term.
If the lease is registered - and 99.9% are in Woodside Park - 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.
Harry (my fiance) and I may need to let out our Woodside Park basement flat temporarily due to a career opportunity. We instructed a Woodside Park conveyancing firm in 2003 but they have since shut and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?
A small minority of properties in Woodside Park do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
Looking forward to complete next month on a basement flat in Woodside Park. Conveyancing lawyers assured me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Woodside Park should include some of the following:
- The total extent of the premises. This will be the flat itself but could also incorporate a loft or cellar if applicable.
My wife and I purchased a leasehold house in Woodside Park. Conveyancing and Coventry Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Woodside Park who acted for me is not around.Any advice?
The first thing you should do is make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Woodside Park conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am employed by a reputable estate agency in Woodside Park where we have experienced a few leasehold sales derailed as a result of short leases. I have been given inconsistent advice from local Woodside Park conveyancing solicitors. Could you clarify whether the owner of a flat can commence 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer 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 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 inherited a ground floor flat in Woodside Park. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?
if there is a missing freeholder or if there is disagreement 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 Leasehold Valuation Tribunal to arrive at the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Woodside Park property is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case related to 1 flat. The the unexpired residue of the current lease was 76 years.