Deed of assignment

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    Deed of assignment

    Hello
    I am new to this (very helpful) forum. I am hoping to purchase a flat whose lease has 81 years left. If I can persuade the vendor to apply to extend the lease I think I understand that I can then arrange to get a Deed of Assignment to me at completion enabling me to carry on where he left off. My query is: does this mean I do not have to have the two year ownership qualification, thus saving the marriage value component of extending the lease? And can I, as an "inheritor" of the application, subsequently go to the LVT if necessary without that 2 year qualification?
    Thank you

    #2
    Originally posted by Vic View Post
    Hello
    I am new to this (very helpful) forum. I am hoping to purchase a flat whose lease has 81 years left. If I can persuade the vendor to apply to extend the lease I think I understand that I can then arrange to get a Deed of Assignment to me at completion enabling me to carry on where he left off. My query is: does this mean I do not have to have the two year ownership qualification, thus saving the marriage value component of extending the lease? And can I, as an "inheritor" of the application, subsequently go to the LVT if necessary without that 2 year qualification?
    Thank you
    If V has the 2yrs and serves, his assignment of notice (in your favour) credits you with his 2yrs. You can then pick up where he leaves off: no need for you to wait at all, provided your sol. notifies f/r that you are legal assignee of V's statutory rights.
    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
    2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
    3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
    4. *- Contact info: click on my name (blue-highlight link).

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      #3
      Thank you Jeffrey!
      Presumably I can, in due course and if necessary, also go on to a LVT because the vendor's residency had been over two years, even if mine won't have been?

      Comment


        #4
        Originally posted by Vic View Post
        Thank you Jeffrey!
        Presumably I can, in due course and if necessary, also go on to a LVT because the vendor's residency had been over two years, even if mine won't have been?
        Yes, you can.
        JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
        1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
        2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
        3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
        4. *- Contact info: click on my name (blue-highlight link).

        Comment


          #5
          Really appreciate this advice
          Thank you!

          Comment

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