Leasehold and Freehold TransfersOur seasoned solicitors are adept at transferring ownership of both leasehold and freehold properties. We take care of all the necessary legal requirements to ensure a seamless transition.
What is the difference between leasehold and freehold property?
A freehold property is where you own the property and the land it stands on outright. A leasehold property, on the other hand, means you lease the property for a specified period from the freeholder (landlord) and may involve additional obligations like ground rent and service charges.
What does a leasehold and freehold transfer involve?
Transferring leasehold or freehold property involves changing the registered owner of the property at the Land Registry. This process is usually facilitated by a solicitor who ensures all legal obligations are met and the transaction proceeds smoothly.
How long does a leasehold or freehold transfer take with Sky Solicitors?
The timeframe for transferring a leasehold or freehold property can vary depending on a range of factors, including the complexity of the transaction. On average, it may take between 6-8 weeks. We at Sky Solicitors aim to handle your property transfer as swiftly and efficiently as possible.
What costs are involved in a leasehold or freehold transfer?
Costs typically include our legal fees, Land Registry fees, and potentially other costs depending on the specifics of the transaction. We will provide a detailed estimate of all costs upfront to ensure complete transparency.
Can Sky Solicitors help with the transfer of shared ownership properties?
Yes, we have vast experience in dealing with the transfer of shared ownership properties. We can guide you through the complexities of these transfers to ensure your rights are protected.
I am selling a leasehold property. Can Sky Solicitors handle the transaction?
Absolutely. We can assist you in selling your leasehold property, ensuring all legal requirements are met and providing comprehensive advice throughout the process.
What does â€˜extending a leaseâ€™ mean and can Sky Solicitors assist me?
Extending a lease involves extending the length of time you have the right to occupy a leasehold property. This can increase the value of your property and make it easier to sell or remortgage. We can assist you in negotiating a lease extension with the freeholder and ensuring the correct legal procedures are followed.
I want to buy the freehold of my leasehold property. Can Sky Solicitors help?
Yes, we can guide you through the process of purchasing the freehold, also known as ‘leasehold enfranchisement’. We’ll negotiate on your behalf, assist with any necessary valuations, and ensure all legal procedures are correctly followed.
What is a Deed of Variation and how can Sky Solicitors assist me with it?
A Deed of Variation is a legal document that changes the terms of a lease or a freehold transfer. This might be necessary if a mistake was made in the original documentation or if both parties agree to change the terms. We can prepare and advise on Deeds of Variation to ensure your interests are protected.
What happens on completion day for a leasehold or freehold transfer?
On completion day, the buyer’s solicitor will send the funds to the seller’s solicitor. Once the funds have been received, the seller’s solicitor will confirm that the property ownership can be transferred. At Sky Solicitors, we coordinate with all parties involved to ensure a seamless transfer.
The information provided in these FAQs is for general informational purposes only and may not reflect the most current legal standards or interpretations. Laws and regulations regarding leasehold enfranchisement are subject to change, and the specific circumstances of each case can impact its outcome. It is advisable to consult with a professional legal service provider like Sky Solicitors to obtain up-to-date and tailored advice based on your individual situation. Sky Solicitors can assess your case, provide accurate information, and guide you through the leasehold enfranchisement process in accordance with the most current laws and legal provisions.