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Leasehold help!
tinofpeas
Posts: 85 Forumite
I hope somebody may be able to give a little bit of help/advise!
Our house has been on the Market for 18 months, we accepted an offer from a FTB and now the questions have started!
Our house is leasehold and When looking at the paperwork I have got from when we bought the house in 06, I have a copy of the lease but it is between the old vendor and original house builder(freeholder)
Should this not now be between us and the house builder?
I have checked the land register and the first bit of the title deed is in the name of the house builder and old vendor and the second bit has mine and my partners name on it - should our name not be on both
bits?
Also it is managed through a management company, we have being paying the ground rent at£40 a year since we moved in and all the letters that come are addressed to us!
Is the lease in our name?????
How would we put lease in our name and how long would it take?
TIA:o
Our house has been on the Market for 18 months, we accepted an offer from a FTB and now the questions have started!
Our house is leasehold and When looking at the paperwork I have got from when we bought the house in 06, I have a copy of the lease but it is between the old vendor and original house builder(freeholder)
Should this not now be between us and the house builder?
I have checked the land register and the first bit of the title deed is in the name of the house builder and old vendor and the second bit has mine and my partners name on it - should our name not be on both
bits?
Also it is managed through a management company, we have being paying the ground rent at£40 a year since we moved in and all the letters that come are addressed to us!
Is the lease in our name?????
How would we put lease in our name and how long would it take?
TIA:o
0
Comments
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Not a problem.
All leases keep the names of the original purchaser; it is transferred to each buyer but it always keeps the reference of that original lease, because it is that lease that all the agreements are based off. Freeholders don't get involved in the passing of the lease from one person to the next so I presume the Land Registry keep this as the reference to the original document and it's terms so that nothing is changed in a "chinese whispers" way.
Don't worry about it!Everything that is supposed to be in heaven is already here on earth.
0 -
Yes, to amplify what Doozergirl said, the lease is a single legal document entered into a one point in time between particular people. When you buy the leasehold the lease itself doesn't change - it is still the same lease made between whoever and whoever - but the Land Registry proprietorship register will show your names and that's all that matters.RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0 -
Thank you so much, was starting to worry last night about this, just glad you have been able to help.
I think the FTB may want to buy the freehold of the property, could this happen at the same time as we are selling the property or should we buy the freehold first, just concerned about timescales and such?
All new to this selling malarky and this leasehold is making it even more complicated!0
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