2-1 transfer - what does Freeholder do?

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    2-1 transfer - what does Freeholder do?

    I am a Freeholder. Have a flat there too. I have received an email from the leaseholder's soclitors acting for Mr A. They are doing a 2-1 transfer from the names of Mr A and Ms B to just Mr.

    The solicitors want to know the requirements on completion.

    Is is just a notice of transfer and fee?

    Is there amything else I need to do?. Do I need confirmation from Ms B?





    #2
    What does the lease say?

    You do not need confirmation from Mrs B.

    Comment


      #3
      In addition to the notices sometime the lease may require a deed of covenant and therefore you may need to prepare a deed of Covenant

      If there are any arrears these must be settled on completion

      Comment


        #4
        On what exact basis is the "fee" - what does lease say? Since you are doing it yourself, if a fee is allowed, would have thought "reasonable" might be about £5 for 10 minutes

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          #5
          A "reasonable" notice fee is rather more than £5 !

          Comment


            #6
            Originally posted by flyingfreehold View Post
            A "reasonable" notice fee is rather more than £5 !
            The fee is for registering the notice which takes no more than a minute. £5 works out at an hourly rate of £300 which is extremely generous for the amount of work and skill involved.

            Comment


              #7
              check the tenant's lease but normally you should (a) ensure all rent and service charges are paid up to date; (b) check that there are no existing breaches of the lease. If there are then you should require the tenant to deal with these before agreeing to acknowledge the transfer.

              With regards to the transfer itself you would normally just ask for them provide you with duplicate notice of transfer and mortgage (you receipt one and return) and a nominal fee.

              Comment


                #8
                Originally posted by CStevens View Post
                check the tenant's lease but normally you should (a) ensure all rent and service charges are paid up to date; (b) check that there are no existing breaches of the lease. If there are then you should require the tenant to deal with these before agreeing to acknowledge the transfer.
                There are two distinct things.

                One is whether the landlord's consent is required for the transfer. If it is (which would be unusual but not unknown for a long residential lease) then the landlord can impose reasonable conditions on granting the consent. If it is not, then the landlord has no control over who the lease is transferred to.

                The other is whether a notice of the dealing needs to be given. Any notice required must be given to the person to whom it is required to be sent. If the notice is sent the tenant's obligation is fulfilled. The notion that the recipient can decline to acknowledge the notice or decline to register it for any reason is misconceived. The notice is solely for the landlord's benefit to let him know there is a change of tenant. If the tenant has changed the tenant has changed and the landlord is bound by the notice to accept there has been a change.

                *

                To go back to post 1, there was no need for the solicitor to ask what the landlord's requirements are as they will be set out in the lease.

                Comment


                  #9
                  Flashback1966,

                  I suggest you reply to leaseholder's solicitor and request a copy of the land registry title to confirm the name of new leaseholder plus £15 registration fee.

                  Comment


                    #10
                    Originally posted by Gordon999 View Post
                    Flashback1966,

                    I suggest you reply to leaseholder's solicitor and request a copy of the land registry title to confirm the name of new leaseholder plus £15 registration fee.
                    The problem in that is that it is taking ages and ages to update the register with new proprietors details. Even longer for "lease extensions" which are actually the grant of a new lease, Ive just filed one with HMLR on behalf of a leaseholder and the target date for registration is some date in 2024. The Land Registry needs a kick up the behind. This is absurd. Beyond absurd. How can it possibly take two years to register a lease. A good hard kick up the rear until they get their act together

                    Comment


                      #11
                      The solicitors question may relate to a deed of covenant and asking how this should be dealt with

                      If a deed of covenant is required the freeholder could request that it is a stand alone deed or could have the covenant incorporated in the Transfer form and a certified copy of the Transfer form sent to the freeholder on completion

                      Comment

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