Market Weighton leasehold conveyancing: Q and A’s
Having checked my lease I have discovered that there are only 72 years left on my lease in Market Weighton. I now wish to get lease extension but my landlord is absent. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to prove that you have done all that could be expected to find the landlord. In some cases a specialist would be useful to try and locate and to produce an expert document which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on investigating the landlord’s absence and the application to the County Court covering Market Weighton.
I have just started marketing my ground floor apartment in Market Weighton.Conveyancing has not commenced but I have just had a quarterly service charge demand – what should I do?
The sensible thing to do is discharge 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. This will smooth the conveyancing process.
I've found a house that appears to be perfect, at a reasonable price which is making it more attractive. I have subsequently discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Market Weighton. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Market Weighton ?
The majority of houses in Market Weighton are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Market Weighton so you should seriously consider shopping around for a Market Weighton conveyancing practitioner and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer will report to you on the legal implications.
I own a leasehold flat in Market Weighton. Conveyancing and The Mortgage Works mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Market Weighton who previously acted has now retired.Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Market Weighton conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note 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.
Last month I purchased a leasehold flat in Market Weighton. Do I have any liability for service charges relating to a period prior to 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. 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 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).
Leasehold Conveyancing in Market Weighton - Examples of Questions you should ask Prior to Purchasing
In the main the cost for major works are not included within maintenance charges, although a few managing agents in Market Weighton obliged leasehold owners to pay into a sinking fund and this is used to offset against major repairs or maintenance.
Plenty Market Weighton leasehold apartments will incur a service charge for maintenance of the block invoiced by the freeholder. Should you acquire the property you will have to meet this liability, normally periodically throughout the year. This may vary from a couple of hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a ground rent for you to pay yearly, normally this is not a significant figure, say around £50-£100 but you should to enquire as on occasion it can be many hundreds of pounds.
Is anyone aware of any major works anticipated that could add a premium to the maintenance costs?