Examples of recent questions relating to leasehold conveyancing in Arlesey
I am in need of some leasehold conveyancing in Arlesey. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
If the lease is registered - and most are in Arlesey - 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 wish to rent out my leasehold apartment in Arlesey. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Notwithstanding that your last Arlesey conveyancing lawyer is not around you can check your lease to check if you are permitted to let out the property. The rule is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you are obliged to seek consent from your landlord or other appropriate person before subletting. This means that you cannot sublet without first obtaining permission. Such consent must not not be unreasonably turned down. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
Last month I purchased a leasehold property in Arlesey. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
What advice can you give us when it comes to appointing a Arlesey conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Arlesey conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Arlesey conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:
- How experienced is the practice with lease extension legislation?
- What are the legal fees for lease extension conveyancing?
In relation to leasehold conveyancing in Arlesey what are the most common lease problems?
Leasehold conveyancing in Arlesey is not unique. All leases are unique and drafting errors can sometimes mean that certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the building
- 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 as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Norwich and Peterborough Building Society, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the buyer to withdraw.
Arlesey Leasehold Conveyancing - A selection of Questions you should ask Prior to Purchasing
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Best to be warned whether redecorating or some other significant cost is due in the near future that will be shared by the leasehold owners and will materially increase the the service costs or result in a specific invoice.
Is anyone aware of any major works on the horizon that will increase the maintenance fees?