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Ground Rent
tazzababe
Posts: 378 Forumite
My mum inherited gound rent of a street from my grandad when he died. Its only £7 per year, per house, but shes knows nothing else about it. Obviously we have the addresses involved and most pay. She now wants to find out more details about it. Can she raise the price? Can she sell indivdually or to an association? If so how much for? Can you give me any advice to pass on tho her please- we have looked on www but can't seem to realy find anything
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Comments
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It depends on the conditions of the ground rent, but I have never known it possible to increase the rent. You can sell it as an investment but obviously it only brings in £7 x no of houses per year. I have occasionally seen them in property auctions. The only one I have ever heard of that had any additional value was one (and I also can't remember if it was a ground rent or some other format) where the owner had the right to arrange the insurance on the properties and take a commission for doing so.A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
What insurance is that?arrange the insurance0 -
I think it was the building insurance. I don't even know if the person telling me about it got the story right. It is the only instance I have ever heard of where the benefit of ownership was more than the rent paid.tazzababe wrote:What insurance is that?A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
Oh right.
Do you know where we could find out details about the actual ownership of the ground rent. When my grandad died he left no paperwork, just the street name and the house numbers. We know it was definatley his- I used to help collect money when I was little- its just that we would like as much info as possible0 -
Can't help you on that one. You'd have hoped there was some documentation somewhere. Has his solicitor or bank got anything? Otherwise, and I'd wait for someone else to confirm this, the Land Registry?A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
Some info for you here0
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