Despite weeks of looking the Title Certificate and documents to our house are lost. The lawyers who did the conveyancing in Groby 10 years ago have long since closed. What are my options?
These day there are copies made of almost everything, and your lawyer will be aware exactly where to locate all the relevant paperwork so you may purchase or dispose of your house without a hitch. Where copies can’t be found, your lawyer can put in place insurance or indemnities against future claims on your premises.
About to purchase a new build apartment in Groby. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Groby
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please supply a car parking plan. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I am looking for a leasehold apartment up to £235,500 and found one near me in Groby I like with a park and station in the vicinity, the downside is that it only has 52 years on the lease. There is not much else in Groby in this price bracket, so just wondered if I would be making a grave error buying a short lease?
If you need a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
Hoping to buy a property located in Groby and I am already nervous. I couldn't find anything specific about Groby. Conveyancing will be needed in due course but do you know about the Groby area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Groby. In the meantime here are some basic statistics that we found
I am employed by a busy estate agent office in Groby where we see a number of flat sales put at risk due to short leases. I have been given conflicting advice from local Groby conveyancing firms. Can you shed some light as to whether the vendor of a flat can start the lease extension process 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 commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
An alternative approach is 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 buyer.
Leasehold Conveyancing in Groby - A selection of Questions you should consider before buying
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Are any of leasehold owners in arrears of their service charge payments? The best form of lease structure is a share of the freehold. In this arrangement the lessees enjoy control and notwithstanding that a managing agent is often retained where it is larger than a house conversion, the managing agent acts for the leaseholders themselves. Best to be warned if changing the roof or some other significant cost is coming up that will be shared by the leaseholders and may well dramatically impact the level of the service fees or require a specific invoice.
We are soon to buying a house in Groby. Could the conveyancer keep our purchase price confidential from sites such as Nestoria. How can this be achieved ?
HM Land Registry as a matter of law required to specify price sold data on the official title for residential properties countrywide including premises in Groby. The register of ownership is an open document, so HMLR would be breaching their statutory obligations if they failed to permit access to the register.
In essence you can make a request of the Land Registry to withhold the amount paid entry but the answer would be in the negative.