Victoria Docks leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in Victoria Docks. Before I get started I want to be sure as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Victoria Docks - 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.
I wish to sublet my leasehold apartment in Victoria Docks. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Even though your previous Victoria Docks conveyancing solicitor is not around you can check your lease to see if it allows you to sublet the property. The rule is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you need to obtain consent from your landlord or some other party in advance of subletting. This means you not allowed to sublet in the absence of first obtaining permission. The consent must not not be unreasonably turned down. If your lease does not allow you to sublet you should ask your landlord for their consent.
Having checked my lease I have discovered that there are only Sixty One years unexpired on my lease in Victoria Docks. I now want to extend my lease but my landlord is absent. What should I do?
If 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 demonstrate that you or your lawyers have done all that could be expected to track down the freeholder. For most situations an enquiry agent may be helpful to try and locate and to produce a report which can be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the application to the County Court overseeing Victoria Docks.
Do you have any advice for leasehold conveyancing in Victoria Docks from the point of view of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Victoria Docks can be reduced if you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ representatives.
- Many landlords or managing agents in Victoria Docks charge for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Victoria Docks.
We have reached the end of our tether in negotiating a lease extension in Victoria Docks. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a missing landlord or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to assess the premium.
An example of a Lease Extension case for a Victoria Docks residence is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case related to 1 flat. The the number of years remaining on the existing lease(s) was 69.77 years.
What are the common problems that you witness in leases for Victoria Docks properties?
There is nothing unique about leasehold conveyancing in Victoria Docks. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the property
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
You may have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Coventry Building Society, and Britannia all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to pull out.