Common questions relating to Shildon leasehold conveyancing
I am on look out for some leasehold conveyancing in Shildon. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
Assuming the lease is registered - and almost all are in Shildon - 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.
Planning to complete next month on a ground floor flat in Shildon. Conveyancing solicitors inform me that they are sending me a report within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Shildon should include some of the following:
- You should receive a copy of the lease
I own a leasehold flat in Shildon. Conveyancing and TSB mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Shildon who previously acted has long since retired.Any advice?
First contact HMLR to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Shildon conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold property in Shildon. Am I liable to pay 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. 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).
What are your top tips when it comes to finding a Shildon conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Shildon conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Shildon conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:
- If the firm is not ALEP accredited then why not?
Leasehold Conveyancing in Shildon - A selection of Questions you should ask Prior to Purchasing
Who are the managing agents?
It would be prudent to discover if there is anything that is prohibited in the lease. By way of example it is fairly common in Shildon leases that pets are not permitted in in a block in Shildon. If you love the apartmentin Shildon however your dog can’t live with you then you will be presented with a difficult determination.
Is anyone aware of any major works in the near future that could increase the service fees?