Experts for Leasehold Conveyancing in Trelogan

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Trelogan leasehold conveyancing Example Support Desk Enquiries

I am hoping to complete next month on a garden flat in Trelogan. Conveyancing solicitors inform me that they report fully tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Trelogan should include some of the following:

  • You should receive a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The total extent of the premises. This will be the apartment itself but could also incorporate a roof space or cellar if applicable.
  • Will you be prohibited or prevented from having pets in the property?
  • You need to be told what constitutes a Nuisance in the lease
  • Whether your lease has a provision for a reserve fund?
  • You should have a good understanding of the insurance provisions For details of the information to be contained in your report on your leasehold property in Trelogan please enquire of your conveyancer in advance of your conveyancing in Trelogan

    • I have just started marketing my garden apartment in Trelogan.Conveyancing lawyers have not yet been instructed but I have just received a quarterly service charge demand – what should I do?

    Your conveyancing lawyer is likely to suggest that you should 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 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.

    Back In 2007, I bought a leasehold flat in Trelogan. Conveyancing and Coventry Building Society mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Trelogan who previously acted has long since retired.Do I pay?

    The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the new freeholder. You do not need to incur the fees of a Trelogan conveyancing solicitor 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 legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I am employed by a long established estate agent office in Trelogan where we have experienced a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Trelogan conveyancing firms. Please can you confirm whether the vendor of a flat can start the lease extension formalities for the buyer?

    As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. 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 sale.

    An alternative approach is to agree the lease extension with the freeholder 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 are your top tips when it comes to finding a Trelogan conveyancing firm to deal with our lease extension?

    If you are instructing a property lawyer for lease extension works (regardless if they are a Trelogan conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Trelogan conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

    • How experienced is the firm with lease extension legislation?
  • If they are not ALEP accredited then why not?

    • I bought a 2 bed flat in Trelogan, conveyancing formalities finalised 5 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Trelogan with a long lease are worth £199,000. The ground rent is £65 per annum. The lease expires on 21st October 2098

    You have 72 years remaining on your lease we estimate the premium for your lease extension to be between £10,500 and £12,000 as well as legals.

    The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Trelogan