Examples of recent questions relating to leasehold conveyancing in Yelverton
Helen (my wife) and I may need to let out our Yelverton basement flat for a while due to a new job. We instructed a Yelverton conveyancing practice in 2004 but they have since shut and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?
Notwithstanding that your last Yelverton conveyancing solicitor is not around you can check your lease to see if you are permitted to let out the apartment. The rule is that if the lease is silent, subletting is allowed. There may be a precondition that you are obliged to seek consent from your landlord or other appropriate person before subletting. This means you not allowed to sublet without first obtaining permission. The consent is not allowed to be unreasonably refused ore delayed. If your lease prohibits you from subletting the property you will need to ask your landlord for their consent.
I’m about to sell my 2 bed flat in Yelverton.Conveyancing has not commenced but I have just had a quarterly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should discharge 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.
Back In 2003, I bought a leasehold house in Yelverton. Conveyancing and Yorkshire Building Society mortgage organised. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Yelverton who previously acted has long since retired.Do I pay?
First make enquiries of HMLR to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Yelverton conveyancing firm to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I work for a busy estate agent office in Yelverton where we see a number of flat sales jeopardised due to short leases. I have received inconsistent advice from local Yelverton conveyancing firms. Can you shed some light as to whether the seller of a flat can commence the lease extension process for the buyer?
As long as 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 proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, 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 buyer.
What makes a Yelverton lease defective?
Leasehold conveyancing in Yelverton is not unique. All leases are unique and legal mistakes in the legal wording can result in certain sections are wrong. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the property
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Coventry Building Society, and Nottingham Building Society all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to pull out.
Yelverton Conveyancing for Leasehold Flats - Examples of Questions you should ask before buying
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This question is important as a) areas can cause problems in the building as the common areas may begin to deteriorate where maintenance remain unpaid b) if the tenants have an issue with the managing agents you will wish to have all the details