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Recently asked questions relating to Melbourne leasehold conveyancing

I am on look out for some leasehold conveyancing in Melbourne. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

If the lease is recorded at the land registry - and 99.9% are in Melbourne - then the leasehold title will always include the basic details 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.

There are only Seventy years remaining on my lease in Melbourne. I now want to extend my lease but my landlord is absent. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to find the lessor. For most situations a specialist may be helpful to carry out a search and prepare an expert document which can be used as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on investigating the landlord’s disappearance and the application to the County Court covering Melbourne.

I today plan to offer on a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Melbourne. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Melbourne ?

The majority of houses in Melbourne are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Melbourne in which case you should be looking for a Melbourne conveyancing practitioner and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your lawyer should appraise you on the various issues.

Can you offer any advice when it comes to finding a Melbourne conveyancing practice to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Melbourne conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Melbourne conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:

  • How familiar is the practice with lease extension legislation?
  • Can they put you in touch with client in Melbourne who can give a testimonial?

    • Can you provide any top tips for leasehold conveyancing in Melbourne with the purpose of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Melbourne can be reduced where you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ solicitors.
    • The majority freeholders or Management Companies in Melbourne levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding 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 usual cause of frustration in leasehold conveyancing in Melbourne.
  • Some Melbourne leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you have had conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to unresolved.
  • If you have the benefit of shareholding in the freehold, you should ensure that you have the original share certificate. Arranging a new share certificate is often a lengthy process and frustrates many a Melbourne home move. Where a reissued share certificate is necessary, you should approach the company officers or managing agents (where relevant) for this as soon as possible.

    • Leasehold Conveyancing in Melbourne - Sample of Questions you should ask before buying

      The best form of lease structure is a share of the freehold. In this arrangement the leaseholders enjoy being in charge if their destiny and notwithstanding that a managing agent is usually employed where the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. Best to be warned whether a new roof is being put on or some other significant cost is pending that will be shared amongst the tenants and will dramatically impact the level of the maintenance charges or result in a specific payment. Does this lease have more than 82 years unexpired?

    Other Topics

    Lease Extensions in Melbourne