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It's very normal for them to ask you to serve a section 42 notice and then assign the benefit of the notice with the lease. Who normally drafts the notice - the buyer's solicitor or the seller's - I'm not sure, but I don't find it surprising that they've suggested your solicitors do it. After all, it's a notice which you're serving, and the buyer's solicitors can't act for you since they're not your client.
Anyway, if your solicitors have an up to date Land Registry title for the lease (and they should) then it should take about 10-15 minutes to draft the s. 42 notice. You can even buy pre-printed Oyez forms where you just fill the boxes in. Drafting the deed of assignment is more complicated, and that will usually have cross-indemnities and other provisions in it.
I'm assuming the buyer's solicitors will want to decide what premium should be proposed in the section 42 notice, as the buyer's going to be the one negotiating the premium.
But basically it sounds pretty standard. Doesn't get my lawyerly spidey senses tingling with suspicion.
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I thought it was to make things rrun smoother, you apply for lease extension and that transfers to new buyer,£40 form at council innit?,,, my friends just doing it
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Brommers
tonyme
@Howard
Possibly one for @danstuff and other leasehold type people
The buyer's solicitor is asking our solicitor to draw up a section 42 notice that we will serve so that the lease can be extended by the buyer on completion, rather than having to wait a year or so for the privilege to do so.
It strikes me as odd that they would ask (well, insist) our solicitor to do it. Other than trying to duck the cost of it or move that cost on to us.
Is there a good reason for them to have behaved in this way?
Also: fucking flats. Fucking fucking flats.