Frequently asked questions relating to Totnes leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Totnes. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.
Assuming the lease is registered - and 99.9% are in Totnes - 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 would like to let out my leasehold apartment in Totnes. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Even though your last Totnes conveyancing solicitor is not around you can review your lease to see if you are permitted to let out the premises. The accepted inference is that if the deeds are silent, subletting is permitted. There may be a precondition that you must obtain permission via your landlord or some other party prior to subletting. The net result is you not allowed to sublet in the absence of first obtaining permission. Such consent should not be unreasonably turned down. If the lease prohibits you from subletting the property you should ask your landlord for their consent.
Estate agents have just been given the go-ahead to market my basement flat in Totnes.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge demand – what should I do?
The sensible thing to do is discharge 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 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am attracted to a two apartments in Totnes which have in the region of forty five years unexpired on the leases. should I be concerned?
A lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this field
Can you offer any advice when it comes to finding a Totnes conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Totnes conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Totnes conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:
- If the firm is not ALEP accredited then what is the reason?
Leasehold Conveyancing in Totnes - A selection of Queries before buying
Be sure to enquire if there are any onerous restrictions in the lease. For example some leases prohibit pets being allowed in certain buildings in Totnes. If you like the flatin Totnes but your cat can’t live with you then you will be faced hard determination.
Generally speaking the cost for major works tend not to be built into the maintenance charges, although a few managing agents in Totnes ask tenants to pay into a reserve fund created for the specific purpose of building a fund for major works.
Are any of leasehold owners in dispute over their service charge payments?