Sample questions relating to Mynydd Isa leasehold conveyancing
I have recently realised that I have 62 years left on my lease in Mynydd Isa. I now wish to extend my lease but my landlord is can not be found. What should I do?
On the basis that 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 enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to locate the lessor. On the whole an enquiry agent would be useful to conduct investigations and prepare a report which can be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s absence and the application to the County Court covering Mynydd Isa.
I have just started marketing my ground floor apartment in Mynydd Isa.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am a negotiator for a busy estate agent office in Mynydd Isa where we see a number of flat sales put at risk as a result of short leases. I have been given contradictory information from local Mynydd Isa conveyancing firms. Please can you confirm 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
An alternative approach is 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 buyer.
Can you offer any advice when it comes to finding a Mynydd Isa conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Mynydd Isa conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Mynydd Isa conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- How experienced is the firm with lease extension legislation?
When it comes to leasehold conveyancing in Mynydd Isa what are the most frequent lease problems?
There is nothing unique about leasehold conveyancing in Mynydd Isa. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the premises
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Bank of Scotland, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.
Leasehold Conveyancing in Mynydd Isa - Sample of Queries Prior to buying
It is important to be aware if window replacement or some other significant cost is anticipated that will be shared by the tenants and will materially increase the the maintenance costs or require a specific invoice.
What prohibitions exist in the Mynydd Isa Lease?
The answer will be helpful as a) areas could result in problems in the block as the communal areas may start to deteriorate where repairs remain unpaid b) if the leasehold owners have an issue with the managing agents you will wish to know about it