Questions and Answers: Whitefield leasehold conveyancing
I am in need of some leasehold conveyancing in Whitefield. Before I get started I require certainty as to the unexpired term of the lease.
Assuming the lease is registered - and most are in Whitefield - 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.
Having checked my lease I have discovered that there are only 62 years left on my lease in Whitefield. I am keen to get lease extension but my landlord is absent. What should I do?
If you qualify, 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 mean that your lease can be extended by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to track down the freeholder. For most situations an enquiry agent would be useful to try and locate and to produce a report which can be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Whitefield.
I work for a reputable estate agency in Whitefield 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 Whitefield conveyancing solicitors. Could you shed some light as to whether the owner of a flat can instigate the lease extension formalities for the buyer?
Provided that the seller has been the owner 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 need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
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.
Can you offer any advice when it comes to finding a Whitefield conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Whitefield conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Whitefield conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- If the firm is not ALEP accredited then why not?
- Can they put you in touch with client in Whitefield who can give a testimonial?
Can you provide any advice for leasehold conveyancing in Whitefield from the point of view of expediting the sale process?
- Much of the delay in leasehold conveyancing in Whitefield can be bypassed where you instruct lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers.
- In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Whitefield leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. If you fail to have the approvals in place do not communicate with the landlord without contacting your lawyer first.
- If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be concerned about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over rather than ongoing.
- If you are supposed to have a share in the freehold, you should ensure that you hold the original share certificate. Obtaining a re-issued share certificate can be a time consuming formality and delays many a Whitefield home move. If a duplicate share is required, you should approach the company officers or managing agents (where applicable) for this sooner rather than later.
- You believe that you know the number of years remaining on your lease but you should double-check by asking your solicitors. A purchaser's lawyer will not be happy to advise their client to where the remaining number of years is less than 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.
Whitefield Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to Purchasing
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It is important to be aware whether a new roof is being installed or some other major work is anticipated that will be shared between the leasehold owners and may well dramatically increase the the service charges or result in a specific invoice.
For many Whitefield leaseholds the outlay for major works tend not to be included within maintenance charges, although there some managing agents in Whitefield ask leasehold owners to pay into a reserve fund created for the specific intention of building a fund for larger works.
Does the lease have more than 90 years left?