Recently asked questions relating to Shefford leasehold conveyancing
I am in need of some leasehold conveyancing in Shefford. Before diving in I want to be sure as to the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Shefford - 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.
I want to rent out my leasehold flat in Shefford. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Even though your last Shefford conveyancing lawyer is no longer available you can check your lease to see if you are permitted to let out the property. The accepted inference is that if the deeds are silent, subletting is allowed. Quite often there is a prerequisite that you are obliged to seek permission via your landlord or other appropriate person prior to subletting. The net result is you not allowed to sublet without first obtaining permission. The consent is not allowed to be unreasonably refused ore delayed. If your lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
Planning to sign contracts shortly on a leasehold property in Shefford. Conveyancing lawyers assured me that they are sending me a report within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Shefford should include some of the following:
- How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
I work for a long established estate agency in Shefford where we have experienced a number of flat sales derailed due to short leases. I have received conflicting advice from local Shefford conveyancing firms. Could you clarify whether the seller of a flat can initiate the lease extension process 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible 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.
What are your top tips when it comes to finding a Shefford conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Shefford conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Shefford conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:
- How experienced is the firm with lease extension legislation?
Leasehold Conveyancing in Shefford - A selection of Questions you should consider Prior to buying
Be sure to discover if there are any onerous restrictions in the lease. For example plenty of leases prohibit pets being permitted in in a block in Shefford. If you love the flatin Shefford yet your dog can’t live with you then you will be faced hard decision.
How long is the Lease?
What prohibitions are there in the Shefford Lease?