Questions and Answers: Potters Bar leasehold conveyancing
I am in need of some leasehold conveyancing in Potters Bar. Before I get started I require certainty as to the remaining lease term.
If the lease is registered - and almost all are in Potters Bar - 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 complete next month on a garden flat in Potters Bar. Conveyancing lawyers assured me that they will have a report out to me within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Potters Bar should include some of the following:
- You should receive a copy of the lease
My wife and I purchased a leasehold house in Potters Bar. Conveyancing and Platform Home Loans Ltd mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Potters Bar who previously acted has long since retired.Any advice?
The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Potters Bar conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am a negotiator for a long established estate agency in Potters Bar where we have experienced a few leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Potters Bar conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can commence 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 commence 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 prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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.
Completion in due on the disposal of our £200000 garden flat in Potters Bar next week. The management company has quoted £312 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Potters Bar?
For most leasehold sales in Potters Bar conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-exchange enquiries
- Where consent is required before sale in Potters Bar
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Following years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Potters Bar. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a missing landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to decide the price.
An example of a Lease Extension matter before the tribunal for a Potters Bar flat is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case was in relation to 1 flat. The unexpired lease term was 76 years.
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