Top Five Questions relating to Leconfield leasehold conveyancing
I would like to let out my leasehold flat in Leconfield. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
A small minority of properties in Leconfield do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests 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 permission.
Expecting to sign contracts shortly on a basement flat in Leconfield. Conveyancing solicitors inform me that they report fully next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Leconfield should include some of the following:
- You should receive a copy of the lease
My wife and I purchased a leasehold flat in Leconfield. Conveyancing and Aldermore mortgage are in place. 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 1998. The conveyancing practitioner in Leconfield who previously acted has now retired.Any advice?
First contact the Land Registry to make sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Leconfield conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured 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 am employed by a reputable estate agent office in Leconfield where we see a number of leasehold sales jeopardised due to short leases. I have been given contradictory information from local Leconfield conveyancing solicitors. Could you clarify whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. 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.
An alternative approach is 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.
We expect to complete the sale of our £450000 apartment in Leconfield next Friday . The management company has quoted £372 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 Leconfield?
For the majority of leasehold sales in Leconfield conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering conveyancing due diligence enquiries
- Where consent is required before sale in Leconfield
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Leconfield Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to buying
-
What is the the remaining lease term?
The prefered form of lease arrangement is if the freehold interest is owned by the leaseholders. In this situation the leaseholders enjoy control and notwithstanding that a managing agent is usually employed where it is bigger than a house conversion, the managing agent is directed by the tenants.
It would be prudent to discover as much as possible about the company managing the building as they will either make life much easier or problematic. As the owner of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to practical issues such as the tidiness of the common parts. Enquire of other tenants whether they are happy with their service. Finally, investigate as to the dates that the service fees are due to the managing agents and precisely what you get for your money.
Other Topics