Sample questions relating to Parkwood Springs leasehold conveyancing
I would like to let out my leasehold apartment in Parkwood Springs. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
The lease dictates relations between the landlord and you the flat owner; specifically, it will say if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Parkwood Springs do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
I own a leasehold house in Parkwood Springs. Conveyancing and Barnsley Building Society mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Parkwood Springs who acted for me is not around.What should I do?
First make enquiries of HMLR to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Parkwood Springs conveyancing solicitor to do this as it can be done on-line for £3. Rest assured 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.
Last month I purchased a leasehold property in Parkwood Springs. Am I liable to pay service charges relating to a period prior to 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. It is an essential part 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).
I work for a long established estate agent office in Parkwood Springs where we have experienced a number of flat sales put at risk as a result of short leases. I have received inconsistent advice from local Parkwood Springs conveyancing firms. Can you shed some light as to whether the seller of a flat can commence the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is 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 purchaser.
If all goes to plan we aim to complete our sale of a £400000 garden flat in Parkwood Springs on Tuesday in a week. The freeholder has quoted £300 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Parkwood Springs?
For most leasehold sales in Parkwood Springs conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering conveyancing due diligence questions
- Where consent is required before sale in Parkwood Springs
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Parkwood Springs Leasehold Conveyancing - Sample of Questions you should consider Prior to Purchasing
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Best to be warned whether changing the roof or some other major work is due in the foreseeable future that will be shared amongst the leasehold owners and could well dramatically increase the the service charges or result in a one time payment.
The majority of Parkwood Springs leasehold flats will be liable to pay a service bill for the upkeep of the building invoiced on behalf of the landlord. If you acquire the property you will have to pay this charge, normally quarterly during the year. This may be anything from several hundred pounds to thousands of pounds for buildings with lifts and large communal grounds. There will also be a rentcharge to be met yearly, this is usually not a large amount, say approximately £25-£75 but you should to enquire it because occasionally it could be many hundreds of pounds.
The best form of lease structure is a share of the freehold. In this arrangement the tenants have control and even though a managing agent is usually retained where the building is larger than a house conversion, the managing agent is directed by the tenants.
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