Top Five Questions relating to North Acton leasehold conveyancing
I am in need of some leasehold conveyancing in North Acton. Before I set the wheels in motion I want to be sure as to the remaining lease term.
Assuming the lease is recorded at the land registry - and most are in North Acton - 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 would like to rent out my leasehold apartment in North Acton. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Even though your last North Acton conveyancing lawyer is no longer available you can review your lease to see if you are permitted to let out the property. The rule is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you must obtain consent via your landlord or some other party in advance of subletting. The net result is you not allowed to sublet without first obtaining permission. Such consent should not be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord for their consent.
I am hoping to exchange soon on a ground floor flat in North Acton. Conveyancing lawyers assured me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in North Acton should include some of the following:
- You should be sent a copy of the lease
Last month I purchased a leasehold property in North Acton. Do I have any liability for service charges relating to a period prior to completion of my purchase?
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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element 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).
We expect to complete the disposal of our £425000 apartment in North Acton on Tuesday in a week. The landlords agents has quoted £360 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in North Acton?
North Acton conveyancing on leasehold maisonettes often involves the purchaser’s solicitor sending enquiries for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be willing to assist. They are at liberty charge a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some transactions it is in excess of £800. The management information fee levied by the landlord must be accompanied by a summary of rights and obligations in relation to administration fees, otherwise the invoice is not strictly payable. Reality however dictates that one has no option but to pay whatever is requested of you should you wish to complete the sale of your home.
I have given up trying to purchase the freehold in North Acton. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a absentee landlord or if there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the price.
An example of a Freehold Enfranchisement case for a North Acton premises is 49 Long Drive in March 2014. The tribunal concluded that the price payable for the freehold interest in the Property should be £26,491 divided as to £12,546 in respect of the ground floor flat and £13,945 in respect of the first floor flat This case related to 2 flats. The unexpired term was 68.47 years.
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