Common questions relating to Walton leasehold conveyancing
My husband and I may need to sub-let our Walton garden flat temporarily due to a new job. We instructed a Walton conveyancing firm in 2003 but they have closed and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Notwithstanding that your last Walton conveyancing lawyer is no longer available you can check your lease to check if it allows you to sublet the property. The accepted inference is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you must seek permission from your landlord or some other party prior to subletting. The net result is you not allowed to sublet without prior consent. The consent should not be unreasonably refused ore delayed. If your lease prohibits you from subletting the property you should ask your landlord for their consent.
Having checked my lease I have discovered that there are only 62 years remaining on my flat in Walton. I am keen to get lease extension but my landlord is can not be found. What should I do?
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 mean that your lease can be extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to find the landlord. On the whole an enquiry agent may be helpful to carry out a search and prepare a report which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing Walton.
Estate agents have just been given the go-ahead to market my basement flat in Walton.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear 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 managing agents 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 appears to be perfect, at a great figure which is making it more attractive. I have subsequently found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Walton. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
The majority of houses in Walton are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Walton in which case you should be shopping around for a Walton conveyancing practitioner and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to conduct alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your solicitor should advise you fully on all the issues.
I work for a long established estate agency in Walton where we have experienced a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Walton conveyancing firms. Please can you shed some light as to whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder 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.
I have had difficulty in negotiating a lease extension in Walton. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the LVT to judgment on the price.
An example of a Lease Extension case for a Walton flat is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case was in relation to 1 flat. The unexpired lease term was 82.93 years.