Top Five Questions relating to Marshalls Park leasehold conveyancing
I only have Sixty One years remaining on my flat in Marshalls Park. I am keen to get lease extension but my landlord is missing. What options are available to me?
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 for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to find the landlord. For most situations a specialist would be useful to carry out a search and to produce a report to be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the application to the County Court overseeing Marshalls Park.
I today plan to offer on a house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have just discovered that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Marshalls Park. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Marshalls Park ?
Most houses in Marshalls Park are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Marshalls Park so you should seriously consider looking for a Marshalls Park conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your lawyer will report to you on the legal implications.
Back In 2006, I bought a leasehold flat in Marshalls Park. 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. It included a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Marshalls Park who acted for me is not around.What should I do?
First make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to instruct a Marshalls Park conveyancing solicitor to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am employed by a reputable estate agent office in Marshalls Park where we have witnessed a number of flat sales jeopardised due to short leases. I have been given conflicting advice from local Marshalls Park conveyancing solicitors. Can you confirm whether the seller of a flat can instigate the lease extension process for the buyer?
As long as the seller has owned the lease 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 proposed purchaser can avoid having to wait 2 years to extend their lease. 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 extend the lease informally by agreement with the landlord 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.
What advice can you give us when it comes to finding a Marshalls Park conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Marshalls Park conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Marshalls Park conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:
- How experienced is the firm with lease extension legislation?
Leasehold Conveyancing in Marshalls Park - Sample of Questions you should consider before Purchasing
How much is the ground rent and service charge?
Can you tell me if there are any major works on the horizon that could increase the service costs?
It would be a good idea to investigate if the the lease contains any unreasonable restrictions in the lease. For instance plenty of leases prohibit pets being allowed in certain buildings in Marshalls Park. If you like the propertyin Marshalls Park but your dog can’t live with you then you will be presented with a hard choice.