Recently asked questions relating to Tenby leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Tenby. Before diving in I would like to find out the unexpired term of the lease.
Assuming the lease is registered - and 99.9% are in Tenby - 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.
My fiance and I may need to let out our Tenby basement flat for a while due to a new job. We used a Tenby conveyancing firm in 2004 but they have since shut and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?
Even though your previous Tenby conveyancing lawyer is not available you can review your lease to check if you are permitted to let out the property. The accepted inference is that if the deeds are silent, subletting is permitted. There may be a precondition that you are obliged to seek consent from your landlord or some other party before subletting. This means that you cannot sublet without first obtaining permission. The consent must not not be unreasonably refused ore delayed. If your lease prohibits you from subletting the property you should ask your landlord for their consent.
I have just started marketing my 2 bed flat in Tenby.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly service charge invoice – what should I do?
The sensible thing to do is discharge the service charge 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 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.
Last month I purchased a leasehold flat in Tenby. 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 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).
Can you offer any advice when it comes to appointing a Tenby conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Tenby conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Tenby 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 helpful:
- How experienced is the firm with lease extension legislation?
Tenby Leasehold Conveyancing - Sample of Questions you should ask Prior to buying
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How is the lease structured?
The best form of lease arrangement is a share of the freehold. In this arrangement the tenants benefit from control and even though a managing agent is often retained if it is bigger than a house conversion, the managing agent retained by the leaseholders.
What is the the remaining lease term?
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