Complete Legal Work
This is a specialist area of law that many high street solicitors do not practice in.
If the timescales required for the various stages are not adhered to or the specified matters within the Act not disclosed then this can be to the detriment of one or other party.
The legal work necessary to complete a lease extension includes
- Obtaining a copy of the lease
- Obtaining a copy of the Land Registry Title Number
- Checking your eligibility to qualify as a leaseholder who can exercise their statutory rights
- Serving information notices to trace the Freeholder/Competent Landlord
- Serving Notices to claim your statutory right to a 90 year lease extension:
Dealing with Landlord's requests for a deposit to be paid. By law this can be 10% of the premium or #250 whichever is the greater
Executing a Deed of Variation to vary the term (length of the lease) to take into account the additional 90 years
Advising on or considering other terms that variation would have benefit to one or both parties
Handling Client monies and paying the premium to the landlord
Registering the Deed of Variation with the Land Registry
Obtaining a Mortgagees (your mortgage company's consent) to such registration of a Deed of Variation
Witnessing any deeds or discharge forms required by your mortgage company to enable registration that your lease has been extended with the Land Registry
Lodging a case with the First Tier Tribunal where terms cannot be agreed.
- On the Freeholder/Competent landlord
- Via a Vesting Order where the landlord cannot be found
- Via the Trustee in Bankruptcy where landlord is an individual who is bankrupt
- Via the Receiver where landlord is a company in receivership