Top Five Questions relating to Rochford leasehold conveyancing
I only have 68 years unexpired on my lease in Rochford. I need to extend my lease but my landlord is missing. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to prove that you have done all that could be expected to track down the landlord. In some cases a specialist would be useful to try and locate and to produce an expert document to be used as proof that the landlord can not be located. It is wise to seek advice from a conveyancer both on devolving into the landlord’s absence and the vesting order request to the County Court covering Rochford.
I own a leasehold flat in Rochford. Conveyancing and Skipton Building Society mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Rochford who acted for me is not around.What should I do?
The first thing you should do is contact the Land Registry to make sure that this person is indeed the new freeholder. You do not need to incur the fees of a Rochford conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am looking at a two apartments in Rochford which have in the region of fifty years left on the lease term. Do I need to be concerned?
There are plenty of short leases in Rochford. The lease is a right to use the property for a period of time. As a lease shortens the marketability of the lease decreases and results in it becoming more expensive to extend the lease. For this reason it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this arena
I am employed by a reputable estate agent office in Rochford where we have witnessed a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have been given contradictory information from local Rochford conveyancing solicitors. Please can you clarify whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
Provided that 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. 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 needs to be completed before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
If all goes to plan we aim to complete the sale of our £ 325000 maisonette in Rochford on Monday in a week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Rochford?
Rochford conveyancing on leasehold flats typically results in administration charges invoiced by managing agents :
- Completing pre-exchange questions
- Where consent is required before sale in Rochford
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Rochford Conveyancing for Leasehold Flats - Sample of Queries Prior to buying
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You should want to discover as much as you can concerning the company managing the building as they can either make living at the property much simpler or uncomfortable. Being a leasehold owner you are often at the mercy of the managing agents from a financial perspective and when it comes to practical matters like the cleanliness of the communal areas. Enquire of other tenants if they are happy with them. In conclusion, be sure you understand the dates that the service fees are due to the relevant party and precisely what it includes.