Questions and Answers: North Cornelly leasehold conveyancing
I am in need of some leasehold conveyancing in North Cornelly. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.
Assuming the lease is registered - and 99.9% are in North Cornelly - 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.
Frank (my husband) and I may need to rent out our North Cornelly basement flat for a while due to a career opportunity. We instructed a North Cornelly conveyancing firm in 2003 but they have closed and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Your lease governs the relationship between the landlord and you the flat owner; specifically, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in North Cornelly do not contain strict prohibition on subletting – such a provision would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
I own a leasehold flat in North Cornelly. Conveyancing and National Westminster Bank mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in North Cornelly who acted for me is not around.Do I pay?
The first thing you should do is contact HMLR to make sure that this person is indeed the new freeholder. There is no need to incur the fees of a North Cornelly conveyancing lawyer to do this as it can be done on-line for £3. You should note that regardless, 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 property in North Cornelly. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee 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. A critical element of leasehold conveyancing for your conveyancer to ensure 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 our sale of a £275000 garden flat in North Cornelly in just under a week. The managing agents has quoted £408 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in North Cornelly?
For most leasehold sales in North Cornelly conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-contract enquiries
- Where consent is required before sale in North Cornelly
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
North Cornelly Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying
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Generally speaking the outlay for major works tend not to be wrapped into the maintenance charges, although there some managing agents in North Cornelly ask leaseholders to contribute towards a sinking fund and this is used to offset against major works.
The prefered form of lease structure is a share of the freehold. In this situation the leaseholders benefit from being in charge if their destiny and even though a managing agent is frequently employed if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.
Is anyone aware of any major works on the horizon that will likely increase the maintenance fees?
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