Ulverston leasehold conveyancing: Q and A’s
Harry (my fiance) and I may need to let out our Ulverston ground floor flat for a while due to a career opportunity. We instructed a Ulverston conveyancing firm in 2002 but they have since shut and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?
A lease governs relations between the landlord and you the leaseholder; in particular, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Ulverston do not contain an absolute prevention of subletting – such a provision would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
I have recently realised that I have Seventy years left on my lease in Ulverston. I now wish to extend my lease but my freeholder is can not be found. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to prove that you have done all that could be expected to locate the freeholder. For most situations a specialist would be helpful to try and locate and to produce a report to be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the application to the County Court covering Ulverston.
I am hoping to complete next month on a leasehold property in Ulverston. Conveyancing lawyers assured me that they report fully tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Ulverston should include some of the following:
- Defining your legal entitlements in respect of the communal areas in the block.By way of example, does the lease contain a right of way over an accessway or hallways?
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have since been informed that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Ulverston. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Ulverston ?
Most houses in Ulverston are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Ulverston in which case you should be looking for a Ulverston conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’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 conveyancer will appraise you on the various issues.
I am a negotiator for a reputable estate agency in Ulverston where we have experienced a number of flat sales derailed as a result of leases having less than 80 years remaining. I have been given contradictory information from local Ulverston conveyancing firms. Can you shed some light as to whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?
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 buyer can avoid having to sit tight for 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 at the same time as completion of the sale.
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.
Ulverston Conveyancing for Leasehold Flats - A selection of Queries before Purchasing
Is anyone aware of any major works anticipated that will likely increase the maintenance charges?
Where a Ulverston lease has less than eighty years it will affect the marketability of the flat. It is worth checking with your mortgage company that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and you need to have some idea of what this will be. For most Ulverstonlease extensions you would be be obliged to have owned the residence for a couple of years in order to be entitled to carry out a lease extension.
The answer will be useful as a) areas could cause problems for the block as the common areas may start to deteriorate where repairs are not paid for b) if the leaseholders have a dispute with the managing agents you will want to have all the details