Common questions relating to Penryn leasehold conveyancing
I am intending to rent out my leasehold apartment in Penryn. 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 dictates the relationship between the freeholder and you the leaseholder; specifically, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Penryn do not prevent strict prohibition on subletting – such a clause would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
I have recently realised that I have Fifty years remaining on my lease in Penryn. I am keen to get lease extension but my landlord is can not be found. 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 apply 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 or your lawyers have used your best endeavours to track down the landlord. In some cases a specialist should be helpful to try and locate and prepare a report which can be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Penryn.
Looking forward to sign contracts shortly on a basement flat in Penryn. 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?
The report on title for your leasehold conveyancing in Penryn should include some of the following:
- The total extent of the premises. This will be the property itself but might incorporate a loft or basement if applicable.
Back In 2007, I bought a leasehold flat in Penryn. Conveyancing and Halifax mortgage organised. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Penryn who acted for me is not around.Do I pay?
First make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Penryn conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Last month I purchased a leasehold house in Penryn. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation 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).
Penryn Leasehold Conveyancing - Examples of Questions you should consider Prior to buying
Is anyone aware of any major works in the near future that will increase the service fees?
What is the the remaining lease term?
If a Penryn lease has no more than eighty years it will have adverse implications on the salability of the flat. Check with your bank that they are content with the length of the lease. A short lease means that you will most likely have to extend the lease at some point and it is worth discovering how much this will be. For most Penrynlease extensions you will be required to have been the owner of the property for two years in order to be legally able to extend the lease.