Examples of recent questions relating to leasehold conveyancing in Yeading
Jane (my partner) and I may need to let out our Yeading 1st floor flat temporarily due to a career opportunity. We used a Yeading conveyancing practice in 2002 but they have since shut and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?
A lease dictates relations between the freeholder and you the leaseholder; in particular, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Yeading do not contain an absolute prevention of subletting – such a clause would adversely affect the market value the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
I have just appointed agents to market my 2 bed apartment in Yeading.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should 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 management companies will not acknowledge the buyer unless 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.
Back In 2001, I bought a leasehold flat in Yeading. Conveyancing and Britannia mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Yeading who previously acted has now retired.Any advice?
The first thing you should do is contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Yeading conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I work for a reputable estate agency in Yeading where we have witnessed a few leasehold sales put at risk as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Yeading conveyancing firms. Could you shed some light as to whether the vendor of a flat can start the lease extension process for the buyer?
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. This means that the proposed purchaser need not have to wait 2 years for a lease extension. 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.
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 buyer.
Can you offer any advice when it comes to choosing a Yeading conveyancing practice to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Yeading conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Yeading 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 of use:
- How many lease extensions has the firm completed in Yeading in the last 12 months?
Notwithstanding our best efforts, we have been unsuccessful in negotiating a lease extension in Yeading. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the sum to be paid.
An example of a lease Extension decision for a Yeading residence is 25 Beechwood Avenue in November 2012. the Tribunal accordingly determined that the premium for the lease extension should be £24,353. This case affected 1 flat. The unexpired term was 58.19 years.