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Author: admin | Category: Car Loan Canada | Date: 05.02.2015

Leasehold Solutions is passionate about empowering flat owners to take control of the value of their properties by extending their leases or buying their freeholds. In May the Upper Tribunal (Lands Chamber) handed down its landmark decision on leasehold relativity (Sloane Stanley Estate v.
Leasehold Solutions has several thousand live lease extensions or freehold acquisitions in progress at any one time.
We have written the following guide to some of these tricks, together with some advice on how you, the flat owner, might recognise and counter them!
We are passionate about the rights of leaseholders, and have long been concerned by the increase in number of new build properties being sold as leasehold. Louie Burns was recently invited by ITV News to comment on outrageous maintenance charges levied upon the owner of an ex Local Authority leasehold flat in London E6.
At Leasehold Solutions we are passionate about highlighting the rights of leaseholders  – including those who have purchased from social landlords (we use the term ‘freeholder’ to avoid confusion) and we were delighted to be given the opportunity to comment on this particular case. Purchased or thinking of purchasing your leasehold property from the Council, Local Authority or other social landlord? Louie Burns has recently recorded a video highlighting the dangers of accepting informal lease extensions. New tax laws passed in december 2015 include a wide-ranging deal on tax extenders, making some items permanent.
New tax laws passed december 2015 include wide-ranging deal tax extenders, making items permanent.
Jericho, ny–december 21, 2015– friday, december 18th, president obama signed law bill, path act, addressed tax extender provisions .
The senate passed bill retroactively extend 50 expired tax provisions 2014, vote 76–16 tuesday evening. Copyright © 2012 Share The Knownledge, All trademarks are the property of the respective trademark owners. According to Property Wire, almost all flats in England and Wales are classed as leasehold property, yet a high amount – around one fifth of owners – aren’t clued up on the most fundamental points in the system, including the crucial 80-year rule. If the lease is below 80 years, do not be tempted by a low asking price straight away, as there may be hidden costs down the line. Lenders will also be sceptical about attaching a mortgage to a property which has a lease of less than 70 years, which may also affect the resale of the property – the Council of Mortgage Lenders require a minimum lease term of 60 to 70 years. Before owners purchase a flat or apartment many simply aren’t given the right level of information needed to make an informed choice about a lease. 99-year leases (the average term length) during the 1990s have, or soon will, also approach the 80-year threshold.
Our advice is to visit expert estate agents like our team at Rampton Baseley when looking for your next property to avoid the pitfalls of this sometimes archaic system. What % below the asking price might it sell for?The list below shows offers which were accepted on similar properties. Most recent salesThe table below lists nearby recent sales of the same type of properties with the same number of bedrooms.
2 sty house subang bestari, seksyen u5, shah alam within market price and good for investment! Nusa bestari nb2 single storey land area 22x70 3 bedroom 2 bathroom renovated unit selling rm418k nego please call 0197336666 raymond to know more.
On a day-to-day basis we work against the biggest and most notorious freeholders in London and, consequently, have an in-depth knowledge of the tricks the various freeholders use to get the most money from each transaction. Research conducted by Bolt Burdon Kemp law firm revealed that more than half of respondents did not know that once a lease falls below 80 years, a lease extension can cost up to hundreds of thousands of pounds, depending on the property and market.

Maintaining a harmonious relationship between a leaseholder (you) and the freeholder (owner) is highly dependent upon financial commitments. The study above revealed that 29% of leaseholder weren’t sure or couldn’t remember the lease term.
This has created a ticking time bomb that will affect a surprisingly high number of Britons across the UK. London flat prices have outstripped any other type of property since 2005, however, many owners do not consider how a lease may affect them after purchase, for example maintenance costs and the role of the freeholder. On the other hand, if you’re a leaseholder who is struggling to sell due to lease issues, we can provide an honest property valuation before you go any further. To see full details and photos of this and other historic listings you will need to subscribe to Pro. In what may turn out to be one of the most significant decisions in the history of leasehold enfranchisement, the Upper Tribunal ruled against a new relativity graph proposed by Parthenia Valuation, which would have reduced the cost of lease extension for flat owners, in the event that their lease drops below 80 years. So if you find a property gem in London, we’re here to tell you to check its lease before you dive in! Once a lease drops below 80 years, the property will swiftly leak value until the lease is topped up again by the leaseholder. Converted flats in the city have become a popular staple as buy-to-let property and in the buyers’ market. You may also go for something a bit different such as Shop Subang Bestari or Office Subang Bestari. If the lease is not extended, the freeholder will be required to pay the difference in value in compensation to extend its ‘marriage value’.
The UK is virtually the only place in the world that has the leaseholder system, so it is important to know where to go when buying and who to talk to about disputes after purchase – First-tier Tribunal Property Chamber (formerly known as the Leasehold Valuation Tribunal). We have created a gallery of pictures to celebrate the event and show off the wonderful art. A powerful lever in lowering the cost per foot of stimulated Utica interval has been a gradual extension of horizontal reach, with the company increasing lateral lengths in evolutionary increments of tens to perhaps hundreds of feet from one well to the next.
With a total measured depth of 27,048 feet, the Purple Hayes lateral spans 18,544 feet, yet was drilled in only 17.6 days in a single bottom-hole assembly run, Hulburt reveals. When all the work was done, Hulburt says the total drilling and completion cost came in at $854 per foot of lateral, shattering any previous industry benchmark in the Utica Shale. While the technical achievements associated with constructing the well are impressive, Hulburt emphasizes the fiscal rationale behind Purple Hayes. Hulburt says the company’s first 10 Utica wells (drilled in 2013-14) had an average lateral length of 6,270 feet and took 49 days apiece to drill to total depth. In contrast, he reports, Purple Hayes has three times the reservoir interval of those first 10 horizontals at one-third the cost per foot of completed lateral, and Eclipse drilled and completed the 18,500-foot lateral in 15 percent less time than it took just to drill a 6,000- or 7,000-foot lateral two years ago.
Initial production from Purple Hayes is being restricted to 5 million cubic feet of dry gas and 1,200 barrels of condensate a day to manage pressure drawdown, but Hulburt says all early signs point to promising long-term productivity and reserves recovery.
Eclipse Resources steadily increased lateral lengths from about 6,000 feet in its first well to an average of 7,000 feet in 2014 and 9,000 feet in 2015, with its longest lateral prior to drilling the Purple Hayes stretching nearly 14,000 feet. While the technical achievements associated with the project are impressive, the company says its first superlateral is a step-change in the cost structure of Utica horizontal wells. We have more than 200 producing Utica wells, and have drilled extensively in both the dry gas and condensate parts of the play,” he relates. Beating Expectations All the upfront planning resulted in Eclipse Resources bringing in its first superlateral under budget, with actual drilling and completion times beating predrill expectations. Hulburt reports a major enabler to eliminating rig time was the ability to TD the entire lateral section with a single bit on a rotary steerable assembly.

Eighteen days later, with the toe of Purple Hayes 1H more than five miles in measured depth from the rig floor, the Smith Bits’ MDi516 matrix bit fitted with 16-millimeter PDC cutters was pulled from the well in an excellent dull condition, according to Hulburt.
The bit was designed for optimal performance and improved cleaning using modeling solutions within the Schlumberger IDEAS™ integrated dynamic design and analysis platform, as well as computational fluid dynamics, the company adds.
Hulburt says the drilling and completion fluid was the only component in the system that required customizing for superlateral drilling. Hulburt reports that only one of the 125 total stages failed to effectively put away the 1,400 pounds pumped per foot of lateral. The efficiencies achieved during treatment allowed Eclipse to improve its daily completion rate by 20 percent over the original plan. Based on prior Utica wells, Hulburt says Eclipse Resources used an optimal frac design on Purple Hayes that consisted of 100 percent slickwater and white sand.
One of the challenges in forecasting production from the Purple Hayes is that the lateral is so long it extends across two Utica Shale type curve areas, with the toe of the well in a heavier liquids model.
These type curve maps show original gas-in-place estimates for Eclipse Resources’ Utica acreage position, as well as its Marcellus leasehold.
The Utica map delineates the dry gas, rich gas and condensate regions, including the very rich condensate area in Guernsey County, Oh., in which the Purple Hayes superlateral is located.
Other key contractors included Nine Energy Service, which provided the wireline work during the completion phase, and Deep Well Services, which performed snubbing services during frac plug mill-out and tubular installation.
According to Deep Well Services, it enhanced the hydraulic rotary capabilities of its 285,000-pound stand-alone snubbing unit to accommodate the demands of Purple Hayes, achieving plug-back total depth at 26,868 feet. It is the result of an extensive amount of planning and preparation, as well as a collaborative team effort with our service contractors,” Hulburt relates. A big reason for that is the in-house specialists we have in every facet of drilling, completion and production. We set the initial production rate at a level we believed would cause pressure to fall by 150 psi a week.
We are extremely happy to see basically no pressure decline and very constant production levels over the first month,” Hulburt reported in early June.
Consequently, Hulburt says Eclipse’s internal projections are based on a weighted average of both type curves. Accordingly, Hulburt says valves were built into the Purple Hayes completion to allow gas lift to commence without having to re-enter the lateral to conduct a workover. The Next Phase While still in the preliminary planning stages, Hulburt reveals that Eclipse Resources’ 2017 drilling program includes a four-well pad with two laterals in excess of 19,000 feet and two about 10,000 feet long. For example, we need to keep the vertical section as straight as possible in superlaterals, and cannot drill out 2,000 feet from a pad before making the horizontal turn, which often is done with shorter laterals,” he says. The ability to spread those costs over a longer reservoir interval makes superlaterals worthwhile. In fact, we have engineering designs to drill Utica multilaterals and think it is technically feasible,” Hulburt concludes. During the first 45 days of production, Purple Hayes produced a cumulative 583 million cubic feet of natural gas equivalent and exhibited very shallow pressure declines of 50 psi a week, according to the company.

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