Long Leases of Flats
This full day course will review the range of key risks associated with the sale and purchase of long residential leases of flats and apartments.
As the scale of the housing shortage continues to grow, it is likely that the sale and purchase of flats will become a key growth area, particularly among first time buyers so it is essential for conveyancers to be prepared.
What You Will Learn
This course will cover the following:
- The perils of increasing ground rents and why they are a negligence time bomb
- What are the options for 'curing' a defective lease and how effective are they?
- Are the common parts and the flats clearly demarcated?
- The pitfalls of buying new apartments off-plan
- Assignment of lease - How should arrears of rent and service charge be dealt with? Who should take the risk of high service charge for proposed major works?
- Issues to be considered on behalf of buy to let landlords
- Absent or unresponsive landlords - Key pitfalls for the purchaser to consider
- Inaccuracy in description of demised premises: Can you use a deed of rectification?
- What are the conveyancers' duties when advising a lessee who might be called upon to become a management company director?
- Can a management company refuse to issue a certificate of compliance post-completion?
- To what extent does a conveyancer have to investigate whether a block of flats is being managed effectively and efficiently?
- Shared ownership leases - Key clauses, including mortgagee protection, lender step-in provisions, final staircasing
- What purpose does a leasehold-related title indemnity insurance serve?
- Pitfalls of alterations to flats
- Keeping of pets and unsuitable floor covering
Please let us know if you wish to be notified.
Please let us know if you wish to be notified when new dates are added for this programme