Examples of recent questions relating to leasehold conveyancing in Parkstone
I am in need of some leasehold conveyancing in Parkstone. Before diving in I want to be sure as to the unexpired term of the lease.
If the lease is recorded at the land registry - and almost all are in Parkstone - 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.
I wish to rent out my leasehold apartment in Parkstone. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Even though your last Parkstone conveyancing lawyer is no longer around you can review your lease to check if it allows you to sublet the apartment. The accepted inference is that if the lease is silent, subletting is allowed. There may be a precondition that you need to seek consent via your landlord or other appropriate person in advance of subletting. The net result is you not allowed to sublet without prior consent. The consent is not allowed to be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
Estate agents have just been given the go-ahead to market my basement flat in Parkstone.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge demand – Do I pay up?
It best that you discharge the service charge 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 management companies will not acknowledge the buyer until 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. This will smooth the conveyancing process.
I've found a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Parkstone. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Parkstone ?
Most houses in Parkstone are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Parkstone in which case you should be shopping around for a Parkstone conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’spermission to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your lawyer should appraise you on the various issues.
Back In 2009, I bought a leasehold flat in Parkstone. Conveyancing and Bank of Scotland mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Parkstone who previously acted has long since retired.Any advice?
First 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. There is no need to instruct a Parkstone conveyancing practitioner to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Leasehold Conveyancing in Parkstone - A selection of Questions you should ask Prior to Purchasing
Best to be warned if changing the roof or some other significant cost is pending to be shared by the leaseholders and will materially increase the the service charges or require a specific invoice.
What is the maintenance charge and ground rent on the apartment?
The best form of lease arrangement is a share of the freehold. In this scenario the leaseholders have control and even though a managing agent is often employed if it is bigger than a house conversion, the managing agent is directed by the tenants.