Frequently asked questions relating to Topsham leasehold conveyancing
I wish to rent out my leasehold flat in Topsham. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Even though your previous Topsham conveyancing lawyer is not around you can review your lease to see if you are permitted to let out the apartment. The rule is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you must obtain consent from your landlord or some other party before subletting. This means that you cannot sublet in the absence of first obtaining permission. Such consent should not be unreasonably turned down. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
Estate agents have just been given the go-ahead to market my garden apartment in Topsham.Conveyancing solicitors are to be appointed soon but I have just had a half-yearly maintenance charge invoice – Do I pay up?
The sensible thing to do is pay 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 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. This will smooth the conveyancing process.
My wife and I purchased a leasehold house in Topsham. Conveyancing and Barnsley Building Society mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Topsham who previously acted has now retired.Any advice?
First make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. You do not need to instruct a Topsham 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 landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I work for a reputable estate agent office in Topsham where we see a few leasehold sales put at risk due to short leases. I have received contradictory information from local Topsham conveyancing solicitors. Can you confirm whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
What makes a Topsham lease unmortgageable?
Leasehold conveyancing in Topsham is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Coventry Building Society, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.
Topsham Leasehold Conveyancing - Examples of Queries Prior to buying
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Is the freehold owned jointly by the leaseholders?
Make sure you enquire if there are any onerous restrictions in the lease. By way of example some leases prohibit pets being permitted in in a block in Topsham. If you like the propertyin Topsham but your cat is not allowed to make the move with you then you have a very hard decision.
How many of the leaseholders are in arrears for their maintenance charge payments?
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