Yate leasehold conveyancing: Q and A’s
I am in need of some leasehold conveyancing in Yate. Before diving in 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 Yate - 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.
I have recently realised that I have 72 years left on my flat in Yate. I need to extend my lease but my freeholder is absent. What options are available to me?
If you meet the appropriate requirements, 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 enable the lease to be extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to locate the freeholder. On the whole an enquiry agent should be useful to carry out a search and to produce a report which can be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court covering Yate.
I’m about to sell my basement flat in Yate.Conveyancing lawyers have not yet been instructed but I have just had a quarterly maintenance charge demand – what should I do?
It best that you clear the service charge 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 management companies 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 work for a reputable estate agent office in Yate where we have experienced a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have received conflicting advice from local Yate conveyancing firms. Can you clarify whether the owner of a flat can instigate the lease extension process 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. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as 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.
Can you offer any advice when it comes to finding a Yate conveyancing firm to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Yate conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Yate conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:
- If they are not ALEP accredited then what is the reason?
Yate Leasehold Conveyancing - Examples of Queries Prior to buying
Be sure to find out if there is anything that is prohibited in the lease. By way of example it is reasonably common in Yate leases that pets are not permitted in in a block in Yate. If you like the flatin Yate however your dog can’t move with you then you will be faced difficult decision.
Are any of leasehold owners in dispute over their service charge payments?
What is the length of the lease?