I am on look out for some leasehold conveyancing in Montpelier. Before I get started I require certainty as to the remaining lease term.

Assuming the lease is registered - and most are in Montpelier - then the leasehold title will always include the basic details 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.

There are only Seventy years unexpired on my flat in Montpelier. I need to get lease extension but my freeholder is absent. What are my options?

On the basis that 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 mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to track down the lessor. In some cases a specialist may be useful to try and locate and prepare an expert document to be used as proof that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Montpelier.

Expecting to exchange soon on a leasehold property in Montpelier. Conveyancing lawyers assured me that they report fully tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Montpelier should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• Are pets allowed in the flat?
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Changes to the flat (alterations and additions)
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
• Responsibility for repairing the window frames

I own a leasehold flat in Montpelier. Conveyancing and TSB mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Montpelier who acted for me is not around.Do I pay?

First make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to instruct a Montpelier conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful freeholder, 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 Montpelier where we have experienced a few flat sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Montpelier conveyancing firms. Can you clarify whether the owner of a flat can initiate the lease extension formalities 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 start 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 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 disposal of the property.

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 buyer.

Montpelier Leasehold Conveyancing - Sample of Queries Prior to Purchasing

It is important to be aware whether redecorating or some other major work is due shortly that will be shared between the tenants and will dramatically increase the the service fees or require a one time invoice. If a Montpelier lease has fewer than 80 years it will affect the marketability of the property. It is worth checking with your lender that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will almost definitely need a lease extension at some point and it is worth discovering how much this would cost. For most Montpelierlease extensions you will need to own the property for 24 months in order to be entitled to extend the lease.