Examples of recent questions relating to leasehold conveyancing in Maldon
I am on look out for some leasehold conveyancing in Maldon. Before I get started I want to be sure as to the remaining lease term.
If the lease is registered - and 99.9% are in Maldon - 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.
Due to exchange soon on a studio apartment in Maldon. Conveyancing solicitors inform me that they report fully on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Maldon should include some of the following:
- You should receive a copy of the lease
Estate agents have just been given the go-ahead to market my garden apartment in Maldon.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should clear the service charge 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. Having a clear account will assist your cause and will leave you no worse off financially.
Back In 2003, I bought a leasehold flat in Maldon. Conveyancing and Barclays mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Maldon who acted for me is not around.What should I do?
First contact HMLR to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Maldon conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Do you have any advice for leasehold conveyancing in Maldon from the point of view of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Maldon can be reduced where you get in touch lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the buyers lawyers.
- The majority landlords or managing agents in Maldon charge for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Maldon.
I purchased a ground floor flat in Maldon, conveyancing formalities finalised in 1998. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Maldon with over 90 years remaining are worth £169,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease expires on 21st October 2077
You have 54 years unexpired we estimate the premium for your lease extension to be between £28,500 and £33,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.