Questions and Answers: Plymstock leasehold conveyancing
I am in need of some leasehold conveyancing in Plymstock. Before I set the wheels in motion I want to be sure as to the remaining lease term.
If the lease is recorded at the land registry - and almost all are in Plymstock - 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.
My fiance and I may need to sub-let our Plymstock garden flat temporarily due to taking a sabbatical. We instructed a Plymstock conveyancing practice in 2001 but they have closed and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?
Notwithstanding that your last Plymstock conveyancing solicitor is not around you can check your lease to check if you are permitted to let out the apartment. The accepted inference is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you are obliged to obtain consent via your landlord or other appropriate person prior to subletting. This means you not allowed to sublet in the absence of first obtaining permission. The consent should not be unreasonably withheld. If the lease prohibits you from letting out the property you should ask your landlord for their consent.
I've recently bought a leasehold property in Plymstock. Do I have any liability for 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 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).
Can you offer any advice when it comes to finding a Plymstock conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Plymstock conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Plymstock conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:
- How experienced is the practice with lease extension legislation?
When it comes to leasehold conveyancing in Plymstock what are the most common lease defects?
Leasehold conveyancing in Plymstock is not unique. Most leases are individual and drafting errors can result in certain sections are erroneous. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the property
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Chelsea Building Society, and TSB all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.
Leasehold Conveyancing in Plymstock - Sample of Queries before buying
Are any of leasehold owners in dispute over their service charge liability?
What prohibitions are there in the Plymstock Lease?
Its a good idea to find out as much as possible about the managing agents as they will either make your living at the property much easier or problematic. As the proprietor of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to practical matters such as the upkeep of the communal areas. Enquire of prospective neighbours what they think of their service. In conclusion, investigate as to the dates that you are obliged pay the service charge to the managing agents and precisely what you get for your money.