Frequently asked questions relating to Tiverton leasehold conveyancing
I am on look out for some leasehold conveyancing in Tiverton. Before I get started I require certainty as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and almost all are in Tiverton - 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 only have Fifty years remaining on my flat in Tiverton. I need to get lease extension but my landlord is missing. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to find the lessor. For most situations a specialist may be helpful to conduct investigations and to produce an expert document to be used as proof that the landlord can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the vesting order request to the County Court covering Tiverton.
Due to complete next month on a garden flat in Tiverton. Conveyancing solicitors assured me that they report fully next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Tiverton should include some of the following:
- You should receive a copy of the lease
I own a leasehold flat in Tiverton. Conveyancing and Accord Mortgages Ltd mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Tiverton who previously acted has long since retired.What should I do?
The first thing you should do is contact HMLR to be sure that this person is in fact the new freeholder. There is no need to instruct a Tiverton conveyancing lawyer 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.
Do you have any top tips for leasehold conveyancing in Tiverton with the intention of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Tiverton can be avoided if you get in touch lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information which will be required by the buyers representatives.
- The majority landlords or Management Companies in Tiverton charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Tiverton.
Tiverton Conveyancing for Leasehold Flats - Examples of Questions you should consider before Purchasing
Can you inform me if there are any major works in the planning that could increase the service fees?
For most Tiverton leaseholds the cost for major works tend not to be included within service charges, although there some managing agents in Tiverton require leaseholders to pay into a reserve fund and this is used to offset against major repairs or maintenance.
Many Tiverton leasehold apartments will be liable to pay a service charge for maintenance of the block set on behalf of the management company. Where you acquire the apartment you will have to meet this liability, usually quarterly accross the year. This can differ from two or three hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a rentcharge for you to pay annual, this is usually not a significant amount, say around £25-£75 but you should to enquire as on occasion it could be many hundreds of pounds.