Recently asked questions relating to Truro leasehold conveyancing
I am in need of some leasehold conveyancing in Truro. Before diving in I require certainty as to the number of years remaining on the lease.
If the lease is registered - and 99.9% are in Truro - 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.
My husband and I may need to let out our Truro ground floor flat for a while due to taking a sabbatical. We used a Truro conveyancing practice in 2004 but they have since shut and we did not think at the time seek any guidance as to whether the lease allows us to sublet. How do we find out?
Even though your last Truro conveyancing solicitor is no longer available you can review your lease to see if you are permitted to let out the premises. The rule is that if the deeds are silent, subletting is allowed. There may be a precondition that you need to seek permission via your landlord or other appropriate person in advance of subletting. The net result is you not allowed to sublet in the absence of prior consent. The consent is not allowed to be unreasonably withheld. If your lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
There are only 68 years unexpired on my lease in Truro. I need to get lease extension but my landlord is can not be found. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to prove that you have used your best endeavours to locate the landlord. In some cases a specialist would be useful to conduct investigations and to produce a report to be used as proof that the freeholder can not be located. It is wise to seek advice from a solicitor both on proving the landlord’s absence and the application to the County Court covering Truro.
I am looking at a two flats in Truro which have approximately fifty years remaining on the lease term. Will this present a problem?
A lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the marketability of the lease deteriorate and it becomes more costly to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena
I am employed by a reputable estate agent office in Truro where we have witnessed a few leasehold sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local Truro conveyancing firms. Could you confirm whether the vendor of a flat can initiate the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
Truro Leasehold Conveyancing - A selection of Queries Prior to Purchasing
Are any of leasehold owners in arrears of their service charge liability?
Who are the managing agents?
The answer will be important as a) areas can result in problems in the block as the common areas may start to deteriorate if repairs are not paid for b) if the tenants have a dispute with the running of the building you will need to have full disclosure