Questions and Answers: Perranporth leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Perranporth. Before I get started I would like to find out the remaining lease term.
If the lease is recorded at the land registry - and almost all are in Perranporth - 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 own a leasehold house in Perranporth. Conveyancing and The Royal Bank of Scotland mortgage went though with no issue. 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 1995. The conveyancing practitioner in Perranporth who previously acted has long since retired.Do I pay?
The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a Perranporth conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am employed by a reputable estate agency in Perranporth where we have experienced a few flat sales jeopardised as a result of short leases. I have been given conflicting advice from local Perranporth conveyancing solicitors. Could you confirm whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease 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 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 before, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord 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.
What advice can you give us when it comes to appointing a Perranporth conveyancing firm to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Perranporth conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Perranporth conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- What volume of lease extensions has the firm completed in Perranporth in the last 12 months?
All being well we will complete our sale of a £250000 maisonette in Perranporth on Friday in a week. The managing agents has quoted £384 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Perranporth?
Perranporth conveyancing on leasehold apartments normally involves administration charges levied by landlords agents :
- Addressing pre-exchange questions
- Where consent is required before sale in Perranporth
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Leasehold Conveyancing in Perranporth - Examples of Questions you should ask before buying
For many Perranporth leaseholds the cost for major works are not built into the maintenance charges, although some managing agents in Perranporth ask tenants to pay into a sinking fund and this is used to offset against major works.
It would be wise to investigate if there is anything that is prohibited in the lease. For example plenty of leases prohibit pets being allowed in in a block in Perranporth. If you like the propertyin Perranporth but your cat can’t move with you then you will be presented with a hard compromise.
The answer will be useful as a) areas can cause problems in the building as the communal areas may begin to deteriorate where maintenance remain unpaid b) if the tenants have an issue with the managing agents you will want to know about it