Victoria leasehold conveyancing: Q and A’s
There are only 72 years left on my lease in Victoria. I now want to extend my lease but my freeholder is can not be found. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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 magistrate. You will be obliged to prove that you have used your best endeavours to track down the freeholder. For most situations an enquiry agent should be helpful to conduct investigations and to produce a report which can be used as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on proving the landlord’s disappearance and the vesting order request to the County Court covering Victoria.
Planning to exchange soon on a garden flat in Victoria. Conveyancing lawyers inform me that they will have a report out to me within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Victoria should include some of the following:
- The physical extent of the demise. This will be the apartment itself but could also include a roof space or cellar if appropriate.
I've found a house that seems to meet my requirements, at a great price which is making it all the more appealing. I have since found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Victoria. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
Most houses in Victoria are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Victoria in which case you should be looking for a Victoria conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority 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 such as obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your conveyancer should report to you on the legal implications.
My wife and I purchased a leasehold house in Victoria. Conveyancing and National Westminster Bank mortgage organised. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Victoria who previously acted has now retired.Any advice?
First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Victoria conveyancing solicitor to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am looking at a two maisonettes in Victoria both have about 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Victoria. The lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the marketability of the lease reduces and results in it becoming more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this field
I inherited a first floor flat in Victoria. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?
if there is a absentee landlord or where there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to decide the amount due.
An example of a Lease Extension decision for a Victoria residence is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case was in relation to 2 flats. The the unexpired residue of the current lease was 56 years.
Other Topics