Common questions relating to Northwich leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Northwich. Before I get started I require certainty as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Northwich - then the leasehold title will always include the basic details 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.
Expecting to sign contracts shortly on a ground floor flat in Northwich. Conveyancing lawyers inform me that they will have a report out to me next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Northwich should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
I own a leasehold flat in Northwich. Conveyancing and Leeds Building Society mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Northwich who acted for me is not around.Do I pay?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Northwich conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am a negotiator for a reputable estate agent office in Northwich where we have experienced a number of flat sales derailed as a result of leases having less than 80 years remaining. I have been given contradictory information from local Northwich conveyancing firms. Can you confirm whether the owner of a flat can instigate the lease extension process for the buyer?
Provided that the seller has owned the lease 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. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 choosing a Northwich conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Northwich conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Northwich conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:
- How many lease extensions has the firm completed in Northwich in the last year?
Northwich Conveyancing for Leasehold Flats - Examples of Queries before Purchasing
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Its a good idea to find out as much as you can concerning the managing agents as they can either make your life much simpler or a lot more difficult. Being a leasehold owner you will be in the clutches of the managing agents from a financial perspective and when it comes to day to day matters such as the cleanliness of the common parts. Enquire of prospective neighbours whether they are happy with their management. On a final note, find out the dates that the service fees are due to the managing agents and specifically what you get for your money.
Generally speaking the cost for major works tend not to be included within service charges, although there some managing agents in Northwich obliged leaseholders to contribute towards a reserve fund created for the specific purpose of building a fund for major works.
How many of the leaseholders are in arrears for their maintenance charge payments?
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