Fixed-fee leasehold conveyancing in Long Eaton:

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Examples of recent questions relating to leasehold conveyancing in Long Eaton

I am on look out for some leasehold conveyancing in Long Eaton. Before diving in I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and almost all are in Long Eaton - then the leasehold title will always include the basic details 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.

Due to complete next month on a leasehold property in Long Eaton. Conveyancing lawyers assured me that they report fully next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Long Eaton should include some of the following:

  • Setting out your legal entitlements in relation to the communal areas in the building.For instance, does the lease grant a right of way over an accessway or hallways?
  • Are you allowed to have a pet in the flat?
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? For a comprehensive list of information to be included in your report on your leasehold property in Long Eaton please ask your solicitor in ahead of your conveyancing in Long Eaton

    • Last month I purchased a leasehold house in Long Eaton. Am I liable to pay service charges for periods before my ownership?

    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. It is an essential part 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).

    I work for a long established estate agency in Long Eaton where we have experienced a number of flat sales put at risk as a result of short leases. I have been given inconsistent advice from local Long Eaton conveyancing firms. Could you confirm whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?

    Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser 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 has to be done before, or at the same time as completion of the sale.

    Alternatively, it may be possible 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.

    Can you offer any advice when it comes to choosing a Long Eaton conveyancing practice to deal with our lease extension?

    When appointing a solicitor for your lease extension (regardless if they are a Long Eaton conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Long Eaton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

    • How experienced is the practice with lease extension legislation?
  • What volume of lease extensions have they carried out in Long Eaton in the last year?

    • Leasehold Conveyancing in Long Eaton - Examples of Queries before Purchasing

      Are any of leasehold owners in arrears of their service charge payments? Most Long Eaton leasehold apartments will be liable to pay a service bill for maintenance of the block invoiced on behalf of the freeholder. Where you purchase the property you will have to pay this contribution, usually in instalments throughout the year. This could vary from several hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. In all likelihood there will be a ground rent to be met annual, this is usually not a significant amount, say about £25-£75 but you should to enquire as on occasion it could be surprisingly expensive. Who are the managing agents?

    Other Topics

    Lease Extensions in Long Eaton