Top Five Questions relating to West Green leasehold conveyancing
There are only 72 years remaining on my lease in West Green. I now wish to extend my lease but my landlord is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to prove that you have made all reasonable attempts to find the lessor. In some cases an enquiry agent should be useful to carry out a search and prepare an expert document to be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer both on devolving into the landlord’s absence and the application to the County Court overseeing West Green.
I am hoping to sign contracts shortly on a ground floor flat in West Green. Conveyancing lawyers assured me that they are sending me a report tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in West Green should include some of the following:
- You should be sent a copy of the lease
I work for a long established estate agency in West Green where we have witnessed a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received contradictory information from local West Green conveyancing solicitors. Could you clarify whether the owner of a flat can initiate the lease extension formalities for the buyer?
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 buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed 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 purchaser.
Can you offer any advice when it comes to choosing a West Green conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a West Green conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non West Green conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:
- If they are not ALEP accredited then what is the reason?
If all goes to plan we aim to complete our sale of a £225000 apartment in West Green in just under a week. The freeholder has quoted £396 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in West Green?
West Green conveyancing on leasehold apartments usually involves the purchaser’s solicitor submitting questions for the landlord to address. Although the landlord is not legally bound to address these enquiries the majority will be willing to do so. They are entitled invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The management information fee levied by the landlord must be accompanied by a summary of rights and obligations in relation to administration fees, without which the charge is technically not due. Reality however dictates that one has little option but to pay whatever is demanded should you wish to exchange contracts with the buyer.
I have had difficulty in seeking a lease extension in West Green. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most certainly. We are happy to put you in touch with a West Green conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a West Green flat is 61 Clinton Road in April 2012. Following a vesting order Clerkenwell and Shoreditch County Court under section 26 of the Leasehold Reform,Housing and Urban Development Act 1993 on 5th July 2011 the Tribunal decided that the price that the Applicant for the freehold interest should pay is £17,000 This case related to 2 flats. The the number of years remaining on the existing lease(s) was 73.88 years.