Recently asked questions relating to Todmorden leasehold conveyancing
I am in need of some leasehold conveyancing in Todmorden. Before I get started I require certainty as to the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Todmorden - 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 just appointed agents to market my basement apartment in Todmorden.Conveyancing is yet to be initiated but I have just had a yearly service charge invoice – 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.
I've found a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Todmorden. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Todmorden ?
The majority of houses in Todmorden are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Todmorden in which case you should be looking for a Todmorden conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer should appraise you on the various issues.
Last month I purchased a leasehold property in Todmorden. Do I have any liability for 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 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 choosing a Todmorden conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Todmorden conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Todmorden conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- How familiar is the firm with lease extension legislation?
Todmorden Conveyancing for Leasehold Flats - Sample of Questions you should ask before buying
The answer will be useful as a) areas can result in problems in the block as the common areas may begin to deteriorate where maintenance are not paid for b) if the leaseholders have a dispute with the managing agents you will need to know about it
Be sure to discover if the the lease contains any adverse restrictions in the lease. For example some leases prohibit pets being permitted in certain buildings in Todmorden. If you like the apartmentin Todmorden however your cat is not allowed to move with you then you will be presented with a hard compromise.
The best form of lease structure is if the freehold title is owned by the leaseholders. In this situation the lessees benefit from control and even though a managing agent is frequently retained if it is bigger than a house conversion, the managing agent is directed by the tenants.