Examples of recent questions relating to leasehold conveyancing in St James
I have recently realised that I have 72 years left on my lease in St James. I now want to extend my lease but my freeholder is absent. What should I do?
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 demonstrate that you or your lawyers have made all reasonable attempts to find the lessor. For most situations an enquiry agent should be useful to try and locate and to produce an expert document which can be used as evidence that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing St James.
Expecting to sign contracts shortly on a leasehold property in St James. Conveyancing lawyers have said 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 St James should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
I have just appointed agents to market my 2 bed apartment in St James.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should clear 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 managing agents will not acknowledge the buyer unless 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. This will smooth the conveyancing process.
I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable figure which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in St James. Conveyancing advisers have not yet been instructed. Will they explain the issues?
Most houses in St James are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in St James so you should seriously consider looking for a St James conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your solicitor should report to you on the legal implications.
I am tempted by the attractive purchase price for a couple of flats in St James which have about forty five years remaining on the lease term. Will this present a problem?
A lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the saleability of the lease deteriorate and it becomes more expensive to extend the lease. For this reason it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area
Following years of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in St James. Can we issue an application to the Residential Property Tribunal Service?
if there is a absentee landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to assess the price payable.
An example of a Lease Extension matter before the tribunal for a St James premises is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case related to 2 flats. The the number of years remaining on the existing lease(s) was 56 years.