Common questions relating to Melbourne leasehold conveyancing
Having checked my lease I have discovered that there are only Sixty One years left on my lease in Melbourne. I am keen to extend my lease but my freeholder is can not be found. What are my options?
If you qualify, 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 granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to locate the landlord. In some cases a specialist may be useful to carry out a search and prepare an expert document to be used as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Melbourne.
I am hoping to exchange soon on a basement flat in Melbourne. Conveyancing lawyers inform me that they report fully on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Melbourne should include some of the following:
- You should receive a copy of the lease
I have just appointed agents to market my garden flat in Melbourne.Conveyancing has not commenced but I have just received a quarterly maintenance charge demand – what should I do?
It best that you clear 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 management companies 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 own a leasehold house in Melbourne. Conveyancing and Accord Mortgages Ltd mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Melbourne who acted for me is not around.Any advice?
The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the new freeholder. There is no need to instruct a Melbourne conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
What are your top tips when it comes to appointing a Melbourne conveyancing firm to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Melbourne conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Melbourne conveyancing practices prior to instructing a firm. Where the conveyancing practice 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?
Melbourne Conveyancing for Leasehold Flats - Sample of Queries before buying
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If a Melbourne lease has fewer than eighty years it will have adverse implications on the marketability of the flat. Check with your mortgage company that they are willing to lend given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely require a lease extension at some point and you need to have some idea of what this would cost. Remember, in most cases you would be required to have owned the residence for a couple of years in order to be eligible to exercise a lease extension.
What restrictions exist in the Melbourne Lease?
Make sure you find out if the the lease contains any unreasonable restrictions in the lease. For instance plenty of leases prohibit pets being permitted in certain buildings in Melbourne. If you like the propertyin Melbourne however your cat is not allowed to live with you then you will be faced difficult decision.
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