I am on look out for some leasehold conveyancing in Yarm. Before I set the wheels in motion I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and most are in Yarm - then the leasehold title will always include the short particulars 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 have recently realised that I have 68 years left on my flat in Yarm. I now want 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 Court. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to locate the landlord. In some cases a specialist may be useful to carry out a search and to produce an expert document which can be used as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Yarm.

Expecting to sign contracts shortly on a garden flat in Yarm. Conveyancing lawyers have said that they report fully on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Yarm should include some of the following:

• The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark

I've found a house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have subsequently discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Yarm. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Yarm ?

Most houses in Yarm are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Yarm in which case you should be looking for a Yarm conveyancing practitioner and check that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is part of an estate. Your conveyancer will report to you on the legal implications.

I own a leasehold flat in Yarm. Conveyancing and Yorkshire Building Society mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Yarm who previously acted has now retired.What should I do?

The first thing you should do is contact HMLR to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Yarm conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note 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 bought a split level flat in Yarm, conveyancing was carried out 2005. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Yarm with a long lease are worth £223,000. The average or mid-range amount of ground rent is £50 levied per year. The lease terminates on 21st October 2096

You have 71 years left to run we estimate the price of your lease extension to be between £11,400 and £13,200 plus legals.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Yarm