Common questions relating to Marple leasehold conveyancing
My wife and I purchased a leasehold house in Marple. Conveyancing and Skipton Building Society mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Marple who previously acted has long since retired.What should I do?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a Marple conveyancing practitioner to do this as it can be done on-line for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I've recently bought a leasehold flat in Marple. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee 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. A critical element 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 busy estate agency in Marple where we have experienced a few flat sales derailed due to short leases. I have been given contradictory information from local Marple conveyancing firms. Could you confirm whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having 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 simultaneously with 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 finding a Marple conveyancing firm to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Marple conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Marple conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- How experienced is the firm with lease extension legislation?
- How many lease extensions have they completed in Marple in the last 12 months?
We expect to complete the sale of our £ 250000 apartment in Marple next week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Marple?
For the majority of leasehold sales in Marple conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing pre-contract enquiries
- Where consent is required before sale in Marple
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Leasehold Conveyancing in Marple - Sample of Queries before Purchasing
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In the main the outlay for major works tend not to be built into the maintenance charges, albeit that there some managing agents in Marple ask leaseholders to pay into a sinking fund created for the specific intention of building a fund for major repairs or maintenance.
It would be sensible to discover as much as you can concerning the managing agents as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you will be at the mercy of the managing agents both financially and when it comes to daily matters such as the cleanliness of the communal areas. Ask prospective neighbours what they think of them. In conclusion, be sure you know the dates that the service fees are due to the relevant party and precisely how they are spending that money.