Examples of recent questions relating to leasehold conveyancing in Newton Abbot
Having had my offer accepted I require leasehold conveyancing in Newton Abbot. Before diving in I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and most are in Newton Abbot - 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 am hoping to complete next month on a garden flat in Newton Abbot. Conveyancing lawyers inform me that they are sending me a report next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Newton Abbot should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
I’m about to sell my 2 bed apartment in Newton Abbot.Conveyancing is yet to be initiated but I have just received a quarterly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay 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 unless 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.
Back In 2001, I bought a leasehold flat in Newton Abbot. Conveyancing and Coventry Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Newton Abbot who acted for me is not around.Do I pay?
The first thing you should do is contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Newton Abbot conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Are there common defects that you encounter in leases for Newton Abbot properties?
There is nothing unique about leasehold conveyancing in Newton Abbot. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the building
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
You may encounter 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. Santander, Skipton Building Society, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.
Newton Abbot Conveyancing for Leasehold Flats - A selection of Queries before buying
The best form of lease structure is a share of the freehold. In this arrangement the leaseholders have being in charge if their destiny and although a managing agent is usually retained if it is bigger than a house conversion, the managing agent is directed by the tenants.
Are there any major works anticipated that will likely increase the service charges?
Best to be warned whether fixing the lift or some other major work is anticipated that will be shared amongst the leasehold owners and may well materially increase the the maintenance charges or result in a specific payment.