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Freehold / Leasehold Question?

squibbs25
squibbs25 Posts: 1,324 Forumite
Part of the Furniture 1,000 Posts Combo Breaker
in House buying, renting & selling
Situation is this!
MIL lives in a GFF, there are 6 Flats in total in the block.
When she and FIL origanilly purchased the flat it was leasehold.
About 2-3 years ago all flat owners in the block were approached about buying the freehold from current freeholder which 5 out of the 6 flats did. So they got 1/5th share of freehold. (hope this makes sense)
They guy in the last flat decided that he wanted to control everything and bid over to get the freehold for himself :rolleyes: . Anyway to cut a long story short he never suceeded and refused to put any monies towards the freehold at all. (Keeping up? lol)
Anyway this guy reckons he's selling his property, but MIL has been told (by a friend) that for him to sell his property he has to get in touch with the freeholders for permission as his flat and all the other flats are still leasehold. :confused:
Does this make any sense to anyone cos it sure dont to us! :rotfl:
Is MIL/FIL's flat still leasehold or freehold?
If anyone can enlighten us, we'd be extremely grateful.

Thanks

Squibbs
My beloved dog Molly
27/05/1997-01/04/2008
RIP my wonderful stepdad - miss you loads
:Axxxxxxxxx:A
our new editions
Senna :male: and Dali :female: both JRT

Comments

  • EdInvestor
    EdInvestor Posts: 15,749 Forumite
    All the flats, including the other guy's and MIL/FIL'S will still be leasehold.

    But now 5 out of the 6 will in addition own one fifth of the freehold.

    The other guy will not own any percentage of the freehold. However leaseholders do not have to get permission from the freeholders to sell their homes, so this will not affect his sale.
    Trying to keep it simple...;)
  • squibbs25
    squibbs25 Posts: 1,324 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Thanks for that!
    MIL was under the impression that her flat was now freehold. Who does she go to if she wanted to get the lease extended?
    My beloved dog Molly
    27/05/1997-01/04/2008
    RIP my wonderful stepdad - miss you loads
    :Axxxxxxxxx:A
    our new editions
    Senna :male: and Dali :female: both JRT
  • cattie
    cattie Posts: 8,844 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    The leaseholders themselves arrange for lease extensions on flats where the freehold is collectively owned.

    Your MIL might find this of interest, it's a government funded agency offering advice on residential leaseholds. http://www.lease-advice.org/newintro.htm
    The bigger the bargain, the better I feel.

    I should mention that there's only one of me, don't confuse me with others of the same name.
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