Torpoint leasehold conveyancing Example Support Desk Enquiries
I am on look out for some leasehold conveyancing in Torpoint. Before diving in I would like to find out the number of years remaining on the lease.
If the lease is registered - and almost all are in Torpoint - 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 recently realised that I have 62 years left on my flat in Torpoint. I am keen to extend my lease but my landlord is can not be found. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to prove that you have made all reasonable attempts to locate the freeholder. For most situations a specialist may be useful to conduct investigations and to produce a report which can be used as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on investigating the landlord’s absence and the application to the County Court covering Torpoint.
Due to exchange soon on a garden flat in Torpoint. Conveyancing solicitors have said that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Torpoint should include some of the following:
- Ground rent - how much and when you need to pay, and also know whether this will change in the future
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Torpoint. Conveyancing lawyers have not yet been appointed. Will they explain the issues?
Most houses in Torpoint are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in Torpoint so you should seriously consider looking for a Torpoint conveyancing practitioner and check 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 with the house. The lease will likely included provisions such as requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your solicitor will report to you on the legal implications.
My wife and I purchased a leasehold flat in Torpoint. Conveyancing and Bank of Scotland mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Torpoint who acted for me is not around.What should I do?
First contact HMLR to make sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to instruct a Torpoint conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note 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 bought a 1 bedroom flat in Torpoint, conveyancing was carried out 2006. How much will my lease extension cost? Corresponding properties in Torpoint with a long lease are worth £170,000. The ground rent is £50 charged once a year. The lease runs out on 21st October 2102
With just 79 years remaining on your lease we estimate the price of your lease extension to be between £10,500 and £12,000 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.