Recently asked questions relating to Sandy leasehold conveyancing
I am on look out for some leasehold conveyancing in Sandy. Before I get started I want to be sure as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and almost all are in Sandy - 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.
Jane (my partner) and I may need to rent out our Sandy ground floor flat for a while due to taking a sabbatical. We used a Sandy conveyancing practice in 2002 but they have closed and we did not think at the time seek any advice as to whether the lease allows us to sublet. How do we find out?
Notwithstanding that your last Sandy conveyancing lawyer is no longer available you can check your lease to see if it allows you to sublet the property. The accepted inference is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you are obliged to seek permission via your landlord or other appropriate person before subletting. This means that you cannot sublet without first obtaining consent. Such consent must not not be unreasonably turned down. If the lease prohibits you from letting out the property you should ask your landlord for their consent.
I today plan to offer on a house that seems to be perfect, at a great figure which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Sandy. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Sandy ?
The majority of houses in Sandy are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Sandy so you should seriously consider looking for a Sandy conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your solicitor will report to you on the legal implications.
I am a negotiator for a busy estate agency in Sandy where we have witnessed a number of leasehold sales put at risk due to short leases. I have received contradictory information from local Sandy conveyancing solicitors. Can you confirm whether the seller of a flat can commence the lease extension formalities for the buyer?
As long as 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. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
An alternative approach is 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 purchaser.
Can you offer any advice when it comes to finding a Sandy conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Sandy conveyancing practice) 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 speak with two or three firms including non Sandy 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 helpful:
- What volume of lease extensions has the firm carried out in Sandy in the last year?
Leasehold Conveyancing in Sandy - Examples of Questions you should consider Prior to Purchasing
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How many of the leaseholders are in arrears for their service charge payments?
How many years remain on the lease?
It would be wise to investigate if the the lease includes any adverse restrictions in the lease. For instance it is reasonably common in Sandy leases that pets are not permitted in certain buildings in Sandy. If you like the apartmentin Sandy but your dog is not allowed to make the move with you then you will be presented with a hard compromise.
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