Recently asked questions relating to Rye leasehold conveyancing
Jane (my partner) and I may need to let out our Rye garden flat for a while due to a new job. We instructed a Rye conveyancing firm in 2003 but they have closed and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?
Notwithstanding that your last Rye conveyancing solicitor is not around you can review your lease to see if you are permitted to let out the property. The rule is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you must seek permission via your landlord or some other party in advance of subletting. The net result is that you cannot sublet in the absence of first obtaining permission. Such consent should not be unreasonably turned down. If your lease prohibits you from subletting the property you should ask your landlord for their consent.
There are only 72 years unexpired on my flat in Rye. I need to extend my lease but my freeholder is absent. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to prove that you have used your best endeavours to locate the lessor. On the whole a specialist may be helpful to conduct investigations and prepare a report to be used as proof that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on investigating the landlord’s absence and the application to the County Court covering Rye.
Last month I purchased a leasehold house in Rye. Am I liable to pay service charges for periods before my ownership?
In a situation 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. 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 employed by a reputable estate agency in Rye where we have witnessed a number of leasehold sales put at risk as a result of short leases. I have received contradictory information from local Rye conveyancing solicitors. Please can you clarify whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner 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 wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, 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 buyer.
We expect to complete our sale of a £150000 maisonette in Rye in just under a week. The management company has quoted £420 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Rye?
For most leasehold sales in Rye conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-exchange questions
- Where consent is required before sale in Rye
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I acquired a 2 bed flat in Rye, conveyancing was carried out in 2012. How much will my lease extension cost? Comparable properties in Rye with a long lease are worth £175,000. The ground rent is £55 per annum. The lease runs out on 21st October 2078
You have 54 years left to run we estimate the price of your lease extension to span between £30,400 and £35,200 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.
Other Topics