Recently asked questions relating to Caerwys leasehold conveyancing
I am in need of some leasehold conveyancing in Caerwys. Before diving in I require certainty as to the remaining lease term.
Assuming the lease is registered - and 99.9% are in Caerwys - 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 only have 62 years unexpired on my flat in Caerwys. I need to get lease extension but my freeholder is can not be found. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application 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 have done all that could be expected to locate the lessor. On the whole a specialist would be useful to carry out a search and prepare an expert document which can be used as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Caerwys.
I own a leasehold flat in Caerwys. Conveyancing and Barclays mortgage organised. A letter has just been received 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 1993. The conveyancing practitioner in Caerwys who previously acted has long since retired.Do I pay?
First contact the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Caerwys conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am a negotiator for a long established estate agent office in Caerwys where we have experienced a few flat sales jeopardised as a result of short leases. I have received conflicting advice from local Caerwys conveyancing firms. Please can you confirm whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
What advice can you give us when it comes to finding a Caerwys conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Caerwys conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Caerwys conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- If the firm is not ALEP accredited then why not?
- What are the costs for lease extension conveyancing?
I inherited a garden flat in Caerwys, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Caerwys with a long lease are worth £222,000. The ground rent is £60 levied per year. The lease terminates on 21st October 2093
With just 67 years remaining on your lease we estimate the premium for your lease extension to range between £10,500 and £12,000 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.