I am on look out for some leasehold conveyancing in Risca. Before diving in I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Risca - then the leasehold title will always include the short particulars 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.

I own a leasehold house in Risca. Conveyancing and TSB mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Risca who previously acted has long since retired.Do I pay?

The first thing you should do is contact HMLR to make sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Risca conveyancing solicitor 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 freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Last month I purchased a leasehold property in Risca. Do I have any liability for service charges relating to a period prior to 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. However, 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).

I am a negotiator for a busy estate agent office in Risca where we have experienced a few leasehold sales put at risk due to short leases. I have received conflicting advice from local Risca conveyancing firms. Please can you shed some light as to whether the owner of a flat can start the lease extension process 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means 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 simultaneously with 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 purchaser.

What are your top tips when it comes to appointing a Risca conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for lease extension works (regardless if they are a Risca conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Risca conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:

• How familiar is the firm with lease extension legislation?

Risca Leasehold Conveyancing - Sample of Queries Prior to Purchasing

You should be aware that where the lease has less than 80 years it will impact the salability of the flat. Check with your lender that they are content with residual term of the lease. A short lease means that you will almost definitely need a lease extension sooner rather than later and you need to have some idea of what this would cost. For most Riscalease extensions you would be be obliged to have owned the property for 24 months in order to be eligible to extend the lease. How much is the maintenance charge and ground rent on the apartment? Does this lease have more than 85 years unexpired?

Other Topics

Lease Extensions in Risca