Recently asked questions relating to Truro leasehold conveyancing
I am on look out for some leasehold conveyancing in Truro. Before diving in I want to be sure as to the remaining lease term.
Assuming the lease is recorded at the land registry - 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 fiance and I may need to let out our Truro ground floor flat temporarily due to a new job. We instructed a Truro conveyancing firm in 2003 but they have since shut and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?
Notwithstanding that your last Truro conveyancing lawyer is no longer available you can review your lease to see if it allows you to sublet the property. The accepted inference is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you need to seek permission via your landlord or some other party in advance of subletting. The net result is you not allowed to sublet without first obtaining consent. The consent is not allowed to be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
I’m about to sell my basement apartment in Truro.Conveyancing has not commenced but I have just received a half-yearly service charge demand – Do I pay up?
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 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. This will smooth the conveyancing process.
I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just been informed that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Truro. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
The majority of houses in Truro are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Truro so you should seriously consider shopping around for a Truro conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your solicitor will advise you fully on all the issues.
Last month I purchased a leasehold flat in Truro. Am I liable to pay service charges relating to a period prior to 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. However, 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 be sure 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).
Truro Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
What restrictions are there in the Truro Lease?
Most Truro leasehold flats will incur a service bill for the upkeep of the block invoiced on behalf of the freeholder. Where you acquire the property you will have to meet this contribution, normally periodically during the year. This may be anything from a couple of hundred pounds to thousands of pounds for large purpose-built blocks. In all probability there will be a ground rent for you to pay yearly, normally this is not a significant figure, say around £50-£100 but you should to enquire as occasionally it can be prohibitively expensive.
Best to be warned if redecorating or some other major work is due in the foreseeable future that will be shared amongst the leasehold owners and could well dramatically impact the level of the service charges or necessitate a one off invoice.