Sample questions relating to Torrington leasehold conveyancing
I am on look out for some leasehold conveyancing in Torrington. Before I get started I want to be sure as to the remaining lease term.
If the lease is registered - and 99.9% are in Torrington - 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 have recently realised that I have 68 years left on my lease in Torrington. I now wish to extend my lease but my freeholder is can not be found. What are my options?
If you qualify, 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 extended by the Court. However, you will be required to prove that you or your lawyers have done all that could be expected to find the landlord. For most situations a specialist may be helpful to conduct investigations and prepare an expert document which can be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s absence and the vesting order request to the County Court covering Torrington.
Looking forward to exchange soon on a leasehold property in Torrington. Conveyancing solicitors inform me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Torrington should include some of the following:
- The physical extent of the demise. This will be the property itself but may incorporate a roof space or basement if appropriate.
I own a leasehold house in Torrington. Conveyancing and Britannia mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Torrington who acted for me is not around.Do I pay?
First make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Torrington conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Last month I purchased a leasehold flat in Torrington. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner 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).
I am the registered owner of a basement flat in Torrington, conveyancing was carried out 2010. Can you work out an approximate cost of a lease extension? Equivalent properties in Torrington with over 90 years remaining are worth £200,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease finishes on 21st October 2085
With only 62 years left to run we estimate the price of your lease extension to span between £16,200 and £18,600 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.