Torpoint leasehold conveyancing: Q and A’s
Having checked my lease I have discovered that there are only Fifty years remaining on my flat in Torpoint. I am keen to get lease extension but my landlord is missing. What should I do?
On the basis that 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 an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to track down the lessor. For most situations an enquiry agent may be useful to carry out a search and to produce a report to be used as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the application to the County Court overseeing Torpoint.
Expecting to exchange soon on a basement flat in Torpoint. Conveyancing solicitors assured me that they are sending me a report tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Torpoint should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
Back In 2005, I bought a leasehold house in Torpoint. Conveyancing and HSBC Bank mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Torpoint who acted for me is not around.What should I do?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Torpoint conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What are your top tips when it comes to finding a Torpoint conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Torpoint conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Torpoint conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- How familiar is the firm with lease extension legislation?
Completion in due on our sale of a £450000 garden flat in Torpoint in just under a week. The management company has quoted £396 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Torpoint?
Torpoint conveyancing on leasehold flats often requires the purchaser’s lawyer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to address these enquiries most will be willing to assist. They are at liberty levy a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The management information fee required by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, without which the invoice is technically not due. In reality one has little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
I am the registered owner of a 1 bedroom flat in Torpoint, conveyancing was carried out in 2003. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Torpoint with over 90 years remaining are worth £252,000. The ground rent is £65 yearly. The lease expires on 21st October 2074
With only 52 years unexpired we estimate the price of your lease extension to be between £36,100 and £41,800 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.
Other Topics