Sample questions relating to St Austell leasehold conveyancing
I am on look out for some leasehold conveyancing in St Austell. Before I set the wheels in motion I would like to find out the remaining lease term.
Assuming the lease is recorded at the land registry - and 99.9% are in St Austell - 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.
I have recently realised that I have Sixty One years left on my lease in St Austell. I am keen to extend my lease but my freeholder is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to prove that you have used your best endeavours to track down the landlord. On the whole an enquiry agent would be useful to conduct investigations and to produce an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to proving the landlord’s disappearance and the application to the County Court covering St Austell.
I own a leasehold flat in St Austell. Conveyancing and Barclays Direct mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in St Austell who acted for me is not around.Any advice?
First make enquiries of HMLR to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a St Austell conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am tempted by the attractive purchase price for a two maisonettes in St Austell which have in the region of fifty years left on the leases. Do I need to be concerned?
There are plenty of short leases in St Austell. The lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the saleability of the lease deteriorate and it becomes more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field
Can you offer any advice when it comes to finding a St Austell conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a St Austell conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non St Austell conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:
- What volume of lease extensions have they carried out in St Austell in the last twenty four months?
St Austell Leasehold Conveyancing - Sample of Questions you should consider Prior to buying
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How many of the leaseholders are in arrears for their service charge payments?
Is anyone aware of any major works in the near future that will likely increase the maintenance costs?
How is the lease structured?
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