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Can you help me word another letter?
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JennyW_2
Posts: 1,888 Forumite
To recap my situ:
Detached house, converted into two flats. Inlaws live in Flat 2 and we are purchasing the ground floor flat (flat 1). My father-in-law holds the freehold.
Between us all, we have discussed that "should" my inlaws decide to move on and sell their flat, my husband and I would like to be given first refusal on purchasing the freehold of the property (or would there be a freehold for each flat)? Anyway, would the letter say some like this:
I, "father-in-law" of "Flat 2, property address....." hereby agree to give first refusal of purchasing both the freeholds for Flat 2 and Flat 1 should I decide to sell Flat 2.
I know this doesn't sound very good, but this is what I'm trying to get across.
Can anyone help with some better wording? Thank you.
Detached house, converted into two flats. Inlaws live in Flat 2 and we are purchasing the ground floor flat (flat 1). My father-in-law holds the freehold.
Between us all, we have discussed that "should" my inlaws decide to move on and sell their flat, my husband and I would like to be given first refusal on purchasing the freehold of the property (or would there be a freehold for each flat)? Anyway, would the letter say some like this:
I, "father-in-law" of "Flat 2, property address....." hereby agree to give first refusal of purchasing both the freeholds for Flat 2 and Flat 1 should I decide to sell Flat 2.
I know this doesn't sound very good, but this is what I'm trying to get across.
Can anyone help with some better wording? Thank you.
0
Comments
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Not sure about this as I've only seen the theory when used with houses. You pay FIL an amount (possibly just £1) for an option to buy the freehold when he sells Flat 2.
Something along the lines of:
For a consideration of £1.
Whenever FIL offers for sale Flat 2, you have option to purchase freehold of flats 1 and 2 at "some price formula".
Purchase to be completed on or before sale of Flat 2.
It needs careful wording and you may be advised to find a solicitor who knows about options for property purchase unless someone on here (especially the property barons) know how to do it.A house isn't a home without a cat.
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