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Morganstown leasehold conveyancing Example Support Desk Enquiries

Having had my offer accepted I require leasehold conveyancing in Morganstown. Before diving in I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and most are in Morganstown - then the leasehold title will always include the short particulars 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.

I have just appointed agents to market my 2 bed apartment in Morganstown.Conveyancing lawyers have not yet been instructed but I have just received a quarterly maintenance charge invoice – what should I do?

The sensible thing to do is discharge the invoice 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 managing agents 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.

My wife and I purchased a leasehold house in Morganstown. Conveyancing and Godiva Mortgages Ltd mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Morganstown who previously acted has now retired.Any advice?

First contact the Land Registry to make sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a Morganstown conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I've recently bought a leasehold house in Morganstown. Do I have any liability for service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).

Do you have any advice for leasehold conveyancing in Morganstown with the intention of expediting the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Morganstown can be bypassed where you appoint lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
  • Many freeholders or managing agents in Morganstown charge for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Morganstown.
  • A minority of Morganstown leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual 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 settled prior to the flat being put on the market. The buyers and their solicitors will be concerned about purchasing a property where a dispute is ongoing. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unresolved.
  • You believe that you know the number of years left on your lease but you should verify this by asking your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to where the lease term is below 80 years. It is therefore important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

  • Morganstown Conveyancing for Leasehold Flats - Examples of Queries Prior to buying

      How many of the leaseholders are in arrears for their service charge payments? What prohibitions are there in the Morganstown Lease? Please note if it is less than eighty years it will affect the value of the property. Check with your mortgage company that they are content with remaining years on the lease. A short lease means that you will almost definitely require a lease extension sooner rather than later and you need to have some idea of how much this will be. Remember, in most cases you will need to own the property for two years before you are entitled to extend the lease.

    Other Topics

    Lease Extensions in Morganstown