Sample questions relating to Askam In Furness leasehold conveyancing
I am intending to let out my leasehold flat in Askam In Furness. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A small minority of properties in Askam In Furness do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I have recently realised that I have Fifty years remaining on my lease in Askam In Furness. I now want to extend my lease but my freeholder is absent. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to locate the freeholder. For most situations an enquiry agent may be useful to carry out a search and to produce a report which can be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the application to the County Court covering Askam In Furness.
Back In 2009, I bought a leasehold flat in Askam In Furness. Conveyancing and The Mortgage Works mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Askam In Furness who previously acted has long since retired.Any advice?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is indeed the new freeholder. There is no need to instruct a Askam In Furness conveyancing lawyer 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 landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am employed by a long established estate agent office in Askam In Furness where we see a few leasehold sales put at risk due to short leases. I have been given conflicting advice from local Askam In Furness conveyancing solicitors. Could you clarify whether the seller of a flat can start the lease extension formalities 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 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 wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
Alternatively, it may be possible 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.
Can you provide any advice for leasehold conveyancing in Askam In Furness from the point of view of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Askam In Furness can be avoided where you instruct lawyers the minute you market your property and request that they start to put together the leasehold information needed by the buyers representatives.
- If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Askam In Furness leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. If you fail to have the consents to hand do not contact the landlord without contacting your lawyer in advance.
I bought a garden flat in Askam In Furness, conveyancing was carried out in 1995. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Askam In Furness with over 90 years remaining are worth £238,000. The average or mid-range amount of ground rent is £60 per annum. The lease ends on 21st October 2077
With only 53 years unexpired we estimate the premium for your lease extension to be between £29,500 and £34,000 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.
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