Examples of recent questions relating to leasehold conveyancing in Witham
I am in need of some leasehold conveyancing in Witham. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and most are in Witham - 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.
There are only Sixty One years remaining on my flat in Witham. I am keen to get lease extension but my landlord is missing. What options are available to me?
On the basis that you meet the appropriate requirements, 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 granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to locate the freeholder. In some cases a specialist would be helpful to conduct investigations and prepare an expert document which can be accepted by the court as evidence 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 Witham.
I am hoping to exchange soon on a leasehold property in Witham. Conveyancing lawyers inform me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Witham should include some of the following:
- You should receive a copy of the lease
Back In 2000, I bought a leasehold house in Witham. Conveyancing and Birmingham Midshires mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Witham who previously acted has now retired.Do I pay?
The first thing you should do is contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Witham conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am attracted to a couple of apartments in Witham which have approximately forty five years remaining on the lease term. Will this present a problem?
A lease is a right to use the property for a prescribed time frame. As the lease gets shorter the value of the lease deteriorate and results in it becoming more costly to extend the lease. This is why it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this arena
I own a 2 bed flat in Witham, conveyancing was carried out in 2000. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Witham with over 90 years remaining are worth £241,000. The ground rent is £60 yearly. The lease ceases on 21st October 2089
With 69 years left to run we estimate the price of your lease extension to range between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.