Examples of recent questions relating to leasehold conveyancing in Peterlee
My partner and I may need to sub-let our Peterlee 1st floor flat temporarily due to a career opportunity. We instructed a Peterlee conveyancing practice in 2004 but they have closed and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Notwithstanding that your previous Peterlee conveyancing solicitor is no longer around you can review your lease to see if it allows you to sublet the premises. The accepted inference is that if the lease is silent, subletting is permitted. There may be a precondition that you need to obtain permission via your landlord or some other party in advance of subletting. The net result is you not allowed to sublet in the absence of first obtaining permission. Such consent must not not be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord for their consent.
I have just started marketing my 2 bed apartment in Peterlee.Conveyancing is yet to be initiated but I have just received a yearly service charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay the invoice 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 managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am a negotiator for a long established estate agent office in Peterlee where we have experienced a few flat sales derailed due to short leases. I have received conflicting advice from local Peterlee conveyancing solicitors. Could you confirm whether the seller of a flat can instigate the lease extension formalities for the buyer?
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. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible 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 buyer.
Can you offer any advice when it comes to choosing a Peterlee conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Peterlee conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Peterlee conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:
- How familiar is the practice with lease extension legislation?
Do you have any advice for leasehold conveyancing in Peterlee with the intention of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Peterlee can be avoided if you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information which will be required by the buyers solicitors.
- The majority landlords or managing agents in Peterlee charge for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Peterlee.
Peterlee Leasehold Conveyancing - Examples of Queries before buying
Are any of leasehold owners in dispute over their service charge payments?
The best form of lease arrangement is if the freehold interest is owned by the leaseholders. In this situation the leaseholders enjoy being in charge if their destiny and although a managing agent is often retained where the building is larger than a house conversion, the managing agent employed by the leaseholders.
On the whole the outlay for major works are not included within service charges, albeit that there some managing agents in Peterlee ask leasehold owners to contribute towards a reserve fund created for the specific purpose of establishing a fund for larger repairs or maintenance.