Sample questions relating to Polperro leasehold conveyancing
I am in need of some leasehold conveyancing in Polperro. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and most are in Polperro - 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.
Back In 2000, I bought a leasehold flat in Polperro. Conveyancing and Bank of Scotland mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Polperro who previously acted has long since retired.What should I do?
First contact the Land Registry to be sure that this person is indeed the new freeholder. There is no need to incur the fees of a Polperro conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold flat in Polperro. Am I liable to pay service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner 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 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).
Can you provide any advice for leasehold conveyancing in Polperro with the intention of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Polperro can be reduced where you get in touch lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation needed by the buyers lawyers.
- If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Polperro leases often stipulate that internal structural changes or addition of wooden flooring require a licence from the Landlord acquiescing to such alterations. Should you dont have the paperwork in place you should not contact the landlord without checking with your lawyer in the first instance.
In relation to leasehold conveyancing in Polperro what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Polperro. Most leases is drafted differently and drafting errors can result in certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Barnsley Building Society, and Platform Home Loans Ltd 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 provide security, obliging the buyer to withdraw.
Polperro Leasehold Conveyancing - Examples of Queries Prior to buying
How many of the leaseholders are in arrears for their maintenance charge payments?
Is the freehold owned jointly by the tenants?
On the whole the cost for major works tend not to be included within maintenance charges, albeit that there some managing agents in Polperro ask leaseholders to contribute towards a reserve fund created for the specific intention of establishing a fund for larger repairs or maintenance.