Sample questions relating to South Brent leasehold conveyancing
I want to sublet my leasehold apartment in South Brent. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
A small minority of properties in South Brent do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I am hoping to put an offer on a small detached house that seems to be perfect, at a great figure which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in South Brent. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in South Brent ?
Most houses in South Brent are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in South Brent in which case you should be looking for a South Brent conveyancing practitioner and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your conveyancer should appraise you on the various issues.
I've recently bought a leasehold house in South Brent. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee 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. 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).
I work for a reputable estate agent office in South Brent where we have experienced a number of flat sales derailed as a result of leases having less than 80 years remaining. I have received contradictory information from local South Brent conveyancing solicitors. Could you confirm whether the owner of a flat can initiate the lease extension formalities for the buyer?
As long as the seller has owned the lease 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. This means 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 has to be done prior to, or simultaneously with completion of the sale.
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 purchaser.
If all goes to plan we aim to complete our sale of a £250000 apartment in South Brent in just under a week. The landlords agents has quoted £372 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in South Brent?
For the majority of leasehold sales in South Brent conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-contract enquiries
- Where consent is required before sale in South Brent
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I acquired a studio flat in South Brent, conveyancing having been completed half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in South Brent with a long lease are worth £230,000. The ground rent is £45 invoiced annually. The lease terminates on 21st October 2079
With just 54 years left to run we estimate the premium for your lease extension to range between £28,500 and £33,000 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.
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