buying flat with 83years left on lease

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  • #16
    Originally posted by sgclacy View Post
    The date on the front of the lease and the commencement date are two different things. In most cases the lease will start from the four quarter days or 1st of Jan.

    In light of sgclacy's quote above could I clarify the following points:

    1) about the date of the lease:
    The land registry official copy says: Date: 4 April 1996
    Term: 99 years from 4 April 1996

    The lease also gives 4 April 1996 as the date.

    Does that mean that the lease is definitely starting on 4/4/1996 and there is no other possible date that it could be starting.


    2) When the purchase is completed will my son have the Title Absolute from the day of completion or will it be a later date ie when it is registered wherever?

    I ask because looking at the land registry 'B: Proprietership register' the date in brackets is February 2007 even though the present owner paid for the flat in November 2006.
    A delay in getting registered could be very costly in view the 2 years needed before my son could serve notice for the lease extension.

    I hope I have made clear what I am asking.

    Sorry to be so dumb, but this is very important and I want to make sure I have got this right.

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    • #17
      Originally posted by sam13 View Post
      1) about the date of the lease:
      The land registry official copy says: Date: 4 April 1996
      Term: 99 years from 4 April 1996


      Does that mean that the lease is definitely starting on 4/4/1996 and there is no other possible date that it could be starting.


      2) When the purchase is completed will my son have the Title Absolute from the day of completion or will it be a later date ie when it is registered wherever?
      1 take that as 99.99% as the start date.

      On completion you are the owner of the flat. Other dates shown on the register are the date of entry on the register.
      Based on the information posted, I offer my thoughts.Any action you then take is your liability. While commending individual effort, there is no substitute for a thorough review of documents and facts by paid for professional advisers.

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      • #18
        Take the guessing and stress out of it and follow the advice given: pay for the vendor and his solicitor to do it now and assign it to your son. Applications take time and the freeholder will have 2 months to respond to your request. You will end up negotiating and this may put you under 80 years.

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        • #19
          The advantage of serving the legal notice now is the "sale price" may be applied as the market value for calculating the cost of lease extension. Whereas in 2 years time, the freeholder's surveyer will decide the market value and your son as leaseholder will pay his bill.

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