Oakdale leasehold conveyancing Example Support Desk Enquiries
I am intending to sublet my leasehold flat in Oakdale. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Your lease governs the relationship between the landlord and you the leaseholder; specifically, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Oakdale do not contain subletting altogether – such a provision would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
There are only Fifty years unexpired on my lease in Oakdale. I now want to get lease extension but my freeholder is absent. What options are available to me?
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 for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to locate the landlord. In some cases an enquiry agent may be useful to try and locate and prepare an expert document to be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Oakdale.
I am hoping to sign contracts shortly on a garden flat in Oakdale. 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?
Your report on title for your leasehold conveyancing in Oakdale should include some of the following:
- The physical extent of the premises. This will be the property itself but may include a roof space or basement if appropriate.
Back In 2003, I bought a leasehold flat in Oakdale. Conveyancing and Clydesdale mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Oakdale who acted for me is not around.What should I do?
The first thing you should do is contact HMLR to be sure that this person is indeed the new freeholder. It is not necessary to instruct a Oakdale conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured 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 tempted by the attractive purchase price for a couple of apartments in Oakdale which have about fifty years left on the leases. should I be concerned?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the marketability of the lease deteriorate and it becomes more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this arena
I purchased a ground floor flat in Oakdale, conveyancing having been completed 1997. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Oakdale with an extended lease are worth £203,000. The ground rent is £55 levied per year. The lease terminates on 21st October 2074
With just 53 years unexpired the likely cost is going to be between £31,400 and £36,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.