Woodside Park leasehold conveyancing Example Support Desk Enquiries
Due to sign contracts shortly on a garden flat in Woodside Park. Conveyancing lawyers assured me that they are sending me a report next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Woodside Park should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
I’m about to sell my 2 bed flat in Woodside Park.Conveyancing has not commenced but I have just had a yearly service charge demand – Do I pay up?
It best that you clear the invoice 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 managing agents will not acknowledge the buyer until 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.
My wife and I purchased a leasehold house in Woodside Park. Conveyancing and Britannia mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Woodside Park who acted for me is not around.What should I do?
First make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Woodside Park conveyancing solicitor to do this as it can be done on-line for less than a fiver. Rest assured 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.
I am attracted to a two apartments in Woodside Park which have about 50 years left on the lease term. should I be concerned?
A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the value of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this field
I've recently bought a leasehold flat in Woodside Park. Do I have any liability for service charges for periods before my ownership?
In a situation 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. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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).
I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Woodside Park conveyancing firm to act on my behalf?
Absolutely. We are happy to put you in touch with a Woodside Park conveyancing firm who can help.
An example of a Lease Extension decision for a Woodside Park premises 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 affected 1 flat. The the unexpired residue of the current lease was 76 years.