We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Buying the freehold
itgirlinuk
Posts: 465 Forumite
Hi,
I live in a 89yr leasehold flat with one more flat above me. My leasehold is different from normal as it says anything on the groundfloor is my responsbility and anything above the groundfloor is my upstairs neighbour's responsibility.
With this in place, my freeholder wants to sell me the leasehold. Do I need to share the freehold with the flat above or can I buy the freehold on my own? What does this entail? Right now, my freeholder does not do anything except collect ground rent. Everything is split between me and the flat above.
If I buy the freehold, do I have to rewrite her lease and will I become responsible for anything more that I do right now? I am so confused and I cannot find info about this kind of situation.
Thanks
I live in a 89yr leasehold flat with one more flat above me. My leasehold is different from normal as it says anything on the groundfloor is my responsbility and anything above the groundfloor is my upstairs neighbour's responsibility.
With this in place, my freeholder wants to sell me the leasehold. Do I need to share the freehold with the flat above or can I buy the freehold on my own? What does this entail? Right now, my freeholder does not do anything except collect ground rent. Everything is split between me and the flat above.
If I buy the freehold, do I have to rewrite her lease and will I become responsible for anything more that I do right now? I am so confused and I cannot find info about this kind of situation.
Thanks
The quickest way to double your money is to fold it in half and put it back in your pocket. :rolleyes:
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.4K Banking & Borrowing
- 253.3K Reduce Debt & Boost Income
- 453.8K Spending & Discounts
- 244.4K Work, Benefits & Business
- 599.6K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards