Examples of recent questions relating to leasehold conveyancing in Shirehampton
Having had my offer accepted I require leasehold conveyancing in Shirehampton. Before I set the wheels in motion I want to be sure as to the remaining lease term.
Assuming the lease is recorded at the land registry - and 99.9% are in Shirehampton - 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.
Estate agents have just been given the go-ahead to market my garden apartment in Shirehampton.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge demand – Do I pay up?
It best that you discharge the invoice 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 until 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've found a house that appears to be perfect, at a great price which is making it all the more appealing. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Shirehampton. Conveyancing lawyers have not yet been appointed. Will they explain the issues?
Most houses in Shirehampton are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Shirehampton so you should seriously consider shopping around for a Shirehampton conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer should appraise you on the various issues.
I am a negotiator for a long established estate agency in Shirehampton where we have experienced a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local Shirehampton conveyancing firms. Could you confirm whether the owner of a flat can instigate 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with 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.
What advice can you give us when it comes to finding a Shirehampton conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Shirehampton conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Shirehampton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:
- Can they put you in touch with client in Shirehampton who can give a testimonial?
Shirehampton Leasehold Conveyancing - Examples of Queries before buying
The best form of lease structure is a share of the freehold. In this scenario the leaseholders have being in charge if their destiny and even though a managing agent is frequently retained if it is bigger than a house conversion, the managing agent is directed by the tenants.
How much is the ground rent and service charge?
Be sure to enquire if there are any onerous restrictions in the lease. For example plenty of leases prohibit pets being allowed in certain buildings in Shirehampton. If you love the flatin Shirehampton but your cat can’t make the move with you then you will be faced hard choice.