Tickton leasehold conveyancing: Q and A’s
I am on look out for some leasehold conveyancing in Tickton. Before I get started I want to be sure as to the remaining lease term.
Assuming the lease is registered - and most are in Tickton - then the leasehold title will always include the basic details 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 own a leasehold flat in Tickton. Conveyancing and Virgin Money mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Tickton who acted for me is not around.Do I pay?
First make enquiries of HMLR to be sure that this person is indeed the new freeholder. There is no need to incur the fees of a Tickton conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Last month I purchased a leasehold flat in Tickton. 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. Strange as it may seem, 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 be sure 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).
What advice can you give us when it comes to finding a Tickton conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Tickton conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Tickton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:
- How experienced is the firm with lease extension legislation?
Completion in due on the sale of our £400000 apartment in Tickton in nine days. The managing agents has quoted £384 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Tickton?
For most leasehold sales in Tickton conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing pre-contract questions
- Where consent is required before sale in Tickton
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I inherited a garden flat in Tickton, conveyancing formalities finalised in 2003. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Tickton with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £45 yearly. The lease ceases on 21st October 2097
With just 76 years left to run we estimate the price of your lease extension to span between £8,600 and £9,800 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.