Top Five Questions relating to Turvey leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Turvey. Before diving in I require certainty as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Turvey - 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.
Planning to complete next month on a leasehold property in Turvey. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Turvey should include some of the following:
- The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
My wife and I purchased a leasehold flat in Turvey. Conveyancing and Halifax mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Turvey who acted for me is not around.Do I pay?
First contact the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Turvey conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note 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.
What are your top tips when it comes to choosing a Turvey conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Turvey conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Turvey conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:
- How familiar is the practice with lease extension legislation?
If all goes to plan we aim to complete our sale of a £450000 flat in Turvey in just under a week. The management company has quoted £324 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Turvey?
Turvey conveyancing on leasehold flats often requires the buyer’s conveyancer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries the majority will be content to assist. They may charge a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge required by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, otherwise the charge is technically not due. In reality one has little option but to pay whatever is demanded should you wish to sell the property.
Turvey Leasehold Conveyancing - Sample of Queries before buying
Who are the managing agents?
Generally speaking the outlay for major works are not included within maintenance charges, although there some managing agents in Turvey obliged leaseholders to contribute towards a sinking fund created for the specific purpose of establishing a fund for major works.
How many of the leaseholders are in arrears for their service charge payments?