Common questions relating to West Thurrock leasehold conveyancing
I’m about to sell my garden flat in West Thurrock.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge demand – what should I do?
The sensible thing to do is 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. Having a clear account will assist your cause and will leave you no worse off financially.
I today plan to offer on a house that seems to be perfect, at a great price which is making it more attractive. I have subsequently been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in West Thurrock. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?
Most houses in West Thurrock are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are buying in West Thurrock so you should seriously consider shopping around for a West Thurrock conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your solicitor will advise you fully on all the issues.
My wife and I purchased a leasehold house in West Thurrock. Conveyancing and Santander mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1991. The conveyancing solicitor in West Thurrock who previously acted has long since retired.What should I do?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a West Thurrock conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I work for a long established estate agency in West Thurrock where we have experienced a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local West Thurrock conveyancing solicitors. Could you clarify whether the owner of a flat can start the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
An alternative approach is 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.
What advice can you give us when it comes to finding a West Thurrock conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a West Thurrock conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non West Thurrock conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- If the firm is not ALEP accredited then why not?
I inherited a garden flat in West Thurrock. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?
in cases where there is a missing landlord or where there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to decide the price payable.
An example of a Lease Extension decision for a West Thurrock premises is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case related to 13 flats. The remaining number of years on the lease was 76 years.
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