I am on look out for some leasehold conveyancing in Bovey Tracey. 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 Bovey Tracey - 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’m about to sell my 2 bed flat in Bovey Tracey.Conveyancing lawyers have not yet been instructed but I have just received a quarterly maintenance charge invoice – what should I do?

The sensible thing to do is 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 unless 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. Having a clear account will assist your cause and will leave you no worse off financially.

Back In 2002, I bought a leasehold house in Bovey Tracey. Conveyancing and Barclays Direct mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Bovey Tracey who previously acted has now retired.What should I do?

The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Bovey Tracey conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

If all goes to plan we aim to complete our sale of a £300000 flat in Bovey Tracey next Wednesday . The freeholder has quoted £396 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Bovey Tracey?

Bovey Tracey conveyancing on leasehold flats usually involves the buyer’s solicitor submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries most will be content to do so. They may invoice a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some situations it exceeds £800. The administration charge required by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, otherwise the charge is not strictly payable. Reality however dictates that you have little option but to pay whatever is demanded should you wish to complete the sale of your home.

What are the frequently found problems that you come across in leases for Bovey Tracey properties?

Leasehold conveyancing in Bovey Tracey is not unique. All leases are unique and drafting errors can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, The Royal Bank of Scotland, and Britannia all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.

Leasehold Conveyancing in Bovey Tracey - A selection of Questions you should consider before Purchasing

The best form of lease arrangement is a share of the freehold. In this arrangement the tenants benefit from being in charge if their destiny and notwithstanding that a managing agent is frequently employed if it is larger than a house conversion, the managing agent is directed by the tenants. What restrictions are there in the Bovey Tracey Lease? You will want to find out as much as you can regarding the managing agents as they will either make living at the property much easier or problematic. As the owner of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to practical matters like the tidiness of the communal areas. Enquire of other people what they think of them. Finally, find out the dates that the maintenance charges are due to the managing agents and precisely what you get for your money.

Other Topics

Lease Extensions in Bovey Tracey