It has been four months following my purchase conveyancing in Acton took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying a new build apartment in Acton. Conveyancing is daunting 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.
Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Acton
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. 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. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Over the last few months I have been searching for a ground for flat up to £305k and identified one round the corner in Acton I like with amenity areas and railway links nearby, the downside is that it only has 49 years on the lease. There is not much else in Acton suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a mortgage that many years may be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
In what way can the Landlord & Tenant Act 1954 impact my business offices in Acton and how can your lawyers assist?
The 1954 Act gives protection to business lessees, granting the legal entitlement to make a request to court for a continuation of occupancy at the end of the lease term. There are limited grounds where a landlord can refuse a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Acton is one of the numerous areas of the UK in which our lawyers are located
In surfing the world wide web for the words conveyancing in Acton it brings up many property lawyersin the vicinity. With so much choice what is the best way to find the right conveyancer for the sale of my house?
The preferential way of seeking a suitable conveyancer is via trusted referral, so enquire of friends and family who have acquired a property in Acton or the reputable estate agent or mortgage broker. Fees for conveyancing in Acton differ, so it's advisable to request a minimum of four estimates from different property lawyers. Make sure that you clarify that the charges are assured not to increase.
I am employed by a reputable estate agency in Acton where we see a few leasehold sales derailed as a result of short leases. I have been given conflicting advice from local Acton conveyancing firms. Can you shed some light as to whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
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 proposed purchaser 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 disposal of the property.
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 purchaser.
I inherited a a ground floor purpose built flat in Acton. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum due for a lease extension?
You certainly can. We can put you in touch with a Acton conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Acton property is 4 Woodhurst Road in July 2013. The Tribunals valuation for the premium to be paid in respect of the collective enfranchisement was £51,050. This case related to 2 flats. The unexpired term was 63.75 years.
