Leasehold Land?

Running_Horse

My parents-in-law recently bought a bungalow and were offered the chance to buy a piece of adjacent land for £4,000 which would have trebled the size of their garden.

Now it turns out the seller only owns a 36 year lease on the land, and the freehold is owned by a London company, so their solicitor has put the purchase on hold.

All my suspicious tendencies are screaming walk away, and that it would be impossible to resell a property, part of which is freehold and part leasehold. Any thoughts or ideas?

GMS

Part freehold and part leasehold is not an issue per se.

Any issue would be determined by the length of the lease. A 999 year lease is every bit as good as a freehold whereas a 15 year lease is pretty much a no no. Conditions of the lease could also have an effect.

It is pretty common for properties to have a seperate leasehold, for instance a non attahced garage or parking space.

The solicitor should be trying to extend the lease (if they were to purchase) or purchase the freehold.

PasturesNew

If purchased, you could keep the titles separate and sell them separately.

Do they want/need the garden for their enjoyment? If so, £4000 for 36 years of enjoyment seems quite reasonable. It's roughly £111/year - probably cheaper than an allotment.