Shaftesbury leasehold conveyancing Example Support Desk Enquiries
Having had my offer accepted I require leasehold conveyancing in Shaftesbury. Before I get started I require certainty as to the remaining lease term.
If the lease is registered - and almost all are in Shaftesbury - 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.
Helen (my wife) and I may need to let out our Shaftesbury garden flat temporarily due to a new job. We used a Shaftesbury conveyancing firm in 2001 but they have since shut and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
A lease governs the relationship between the landlord and you the leaseholder; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Shaftesbury do not prevent subletting altogether – such a clause would adversely affect the market value the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
Estate agents have just been given the go-ahead to market my garden flat in Shaftesbury.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge invoice – Do I pay up?
The sensible thing to do is discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I own a leasehold flat in Shaftesbury. Conveyancing and Lloyds TSB Bank mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Shaftesbury who previously acted has long since retired.What should I do?
First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to instruct a Shaftesbury conveyancing practitioner 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.
I am tempted by the attractive purchase price for a two maisonettes in Shaftesbury both have about forty five years left on the lease term. Do I need to be concerned?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease decreases and it becomes more costly to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this field
Shaftesbury Leasehold Conveyancing - A selection of Questions you should ask Prior to buying
It would be prudent to discover as much as possible regarding the company managing the block as they can either make life much easier or uncomfortable. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to every day issues such as the tidiness of the communal areas. Ask other people what they think of their management. On a final note, investigate as to the dates that the service charges are due to the appropriate party and precisely how they are spending that money.
Does the lease include onerous restrictions?
Can you tell me if there are any major works in the planning that will add a premium to the maintenance costs?