Examples of recent questions relating to leasehold conveyancing in Sawston
I am on look out for some leasehold conveyancing in Sawston. Before I get started I want to be sure as to the remaining lease term.
If the lease is recorded at the land registry - and most are in Sawston - 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.
There are only Fifty years unexpired on my lease in Sawston. I need to get lease extension 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 granted an extra 90 years by the Court. However, you will be required to demonstrate that you have done all that could be expected to track down the lessor. In some cases a specialist would be helpful to carry out a search and to produce a report to be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Sawston.
I've recently bought a leasehold flat in Sawston. Do I have any liability for service charges for periods before completion of my purchase?
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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).
What advice can you give us when it comes to appointing a Sawston conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Sawston conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Sawston conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:
- Can they put you in touch with client in Sawston who can give a testimonial?
Do you have any top tips for leasehold conveyancing in Sawston with the intention of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Sawston can be bypassed where you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the buyers representatives.
- Many freeholders or managing agents in Sawston charge for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Sawston.
Sawston Leasehold Conveyancing - Sample of Queries before Purchasing
Be sure to discover if there is anything that is prohibited in the lease. For example plenty of leases prohibit pets being allowed in in a block in Sawston. If you like the propertyin Sawston yet your cat is not allowed to make the move with you then you have a very difficult determination.
Please note that where the lease has fewer than 80 years it will have adverse implications on the value of the apartment. It is worth checking with your lender that they are willing to to proceed given the lease term. Leases with less than 80 years remaining means that you will probably have to extend the lease sooner rather than later and it is worth discovering what this would cost. For most Sawstonlease extensions you would be be obliged to have been the owner of the property for 24 months in order to be entitled to carry out a lease extension.
The prefered form of lease structure is a share of the freehold. In this situation the tenants enjoy being in charge if their destiny and although a managing agent is often retained if it is bigger than a house conversion, the managing agent employed by the leaseholders.