Matlock leasehold conveyancing: Q and A’s
I have recently realised that I have 62 years left on my flat in Matlock. I need to extend my lease but my landlord is can not be found. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to find the freeholder. In some cases an enquiry agent should be useful to carry out a search and to produce an expert document which can be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Matlock.
I am hoping to exchange soon on a garden flat in Matlock. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Matlock should include some of the following:
- You should receive a copy of the lease
I work for a long established estate agency in Matlock where we have experienced a few leasehold sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local Matlock conveyancing solicitors. Could you shed some light as to whether the owner of a flat can commence the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to 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 disposal of the property.
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 buyer.
What are your top tips when it comes to choosing a Matlock conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Matlock conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Matlock conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- If the firm is not ALEP accredited then why not?
Can you provide any top tips for leasehold conveyancing in Matlock with the intention of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Matlock can be bypassed if you get in touch lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the buyers lawyers.
- Many freeholders or Management Companies in Matlock charge for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Matlock.
Matlock Conveyancing for Leasehold Flats - Sample of Queries Prior to buying
Is there a share of the freehold?
Does the lease include onerous restrictions?
Does the lease have more than 90 years left?