Frequently asked questions relating to Portland leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Portland. Before I get started I want to be sure as to the unexpired term of the lease.
Assuming the lease is registered - and 99.9% are in Portland - 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.
Looking forward to exchange soon on a garden flat in Portland. Conveyancing solicitors have said that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Portland should include some of the following:
- You should receive a copy of the lease
Estate agents have just been given the go-ahead to market my garden apartment in Portland.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you clear the service charge 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 management companies will not acknowledge the buyer unless 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. This will smooth the conveyancing process.
Last month I purchased a leasehold house in Portland. Do I have any liability for service charges for periods before my ownership?
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. Strange as it may seem, 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).
Can you offer any advice when it comes to appointing a Portland conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Portland conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Portland 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:
- How experienced is the practice with lease extension legislation?
Leasehold Conveyancing in Portland - Examples of Queries before buying
Who is in charge of the building?
The answer will be useful as a) areas can result in problems for the building as the common areas may start to deteriorate if repairs are not paid for b) if the tenants have an issue with the managing agents you will need to have all the details
It would be a good idea to enquire if there are any onerous prohibitions in the lease. By way of example some leases prohibit pets being allowed in in a block in Portland. If you like the apartmentin Portland however your cat is not allowed to make the move with you then you will be faced hard compromise.