Recently asked questions relating to Walkington leasehold conveyancing
My partner and I may need to sub-let our Walkington ground floor flat for a while due to a new job. We instructed a Walkington conveyancing firm in 2001 but they have since shut and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?
The lease dictates relations between the freeholder and you the flat owner; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Walkington do not contain subletting altogether – such a clause would undoubtedly devalue the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
I only have Fifty years unexpired on my flat in Walkington. I now want to get lease extension but my freeholder is missing. What are my options?
If you meet the appropriate requirements, 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 enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you have done all that could be expected to track down the landlord. In some cases a specialist should be helpful to carry out a search and prepare a report to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s absence and the application to the County Court overseeing Walkington.
Estate agents have just been given the go-ahead to market my garden flat in Walkington.Conveyancing has not commenced but I have just received a quarterly maintenance charge demand – Do I pay up?
It best that you pay the invoice 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 managing agents will not acknowledge the buyer until 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. This will smooth the conveyancing process.
I am a negotiator for a reputable estate agent office in Walkington where we have witnessed a few flat sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local Walkington conveyancing firms. Please can you confirm whether the owner of a flat can commence the lease extension process 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 start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
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.
All being well we will complete our sale of a £300000 maisonette in Walkington next week. The managing agents has quoted £360 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Walkington?
For most leasehold sales in Walkington conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing conveyancing due diligence questions
- Where consent is required before sale in Walkington
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the registered owner of a 1st floor flat in Walkington, conveyancing formalities finalised 2004. Can you work out an approximate cost of a lease extension? Corresponding flats in Walkington with a long lease are worth £233,000. The average or mid-range amount of ground rent is £65 levied per year. The lease comes to an end on 21st October 2098
With only 73 years left to run we estimate the premium for your lease extension to be between £11,400 and £13,200 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.
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