"Freehold reverting back to the queen"

sarah_elton

I have a colleague who is in the process of buying a leasehold flat. Their solicitor has just advised them that the company which owned the freehold no longer exists, and therefore the freehold has reverted to the queen.

I thought I knew most stuff about the house buying process, but this is completely new to me! What on earth does it mean? Their solicitor seems to think that this is a big cause for concern, but they don't understand the potential implications. What are they?

david29dpo

yes, it is true! the freehold goes to the queen. not dale winton, HRH lizzy the 2nd ! your colleagues solicitor will have to deal with the treasurers solicitor.

sarah_elton

So what if something needs repairing - he phones the Queen?

I wrote that original post quickly as I was trying to leave the office, but said I'd look into it at the weekend (he's Swiss and his g/f's Greek, so they're figuring out the English purchasing system as they go). Thinking about it on the way home, it's just confusing. You're buying leasehold but who are you paying the lease to? And as I said, what happens if there's a repair to communal areas?

In general terms, is this what happens to freehold if someone dies, and has no will or living relatives?

Alan_M_2

I thought it went into the countries coffers, I think the term "Queen" here is being used with a general meaning.

I'm now curious......

Pobby

I expect the poor old gal needs it to supplement her state pension.What with her dysfunctional family and that!

skintscotsman

david29dpo wrote:

not dale winton,

:rotfl: :rotfl:

RichyRich

The crown rather than the queen, surely? I wouldn't have thought it would make all that much of a difference - I would have thought that the rules would be similar to the rules if a landlord sold his reversion to someone else.

With regard to "is this what happens to land if there is no will/living relatives", the ultimate title to all land is held by the crown. If there is no eligible recipient of the land upon the death of a person then yes it reverts to the crown.

Hope to help

Rich

sarah_elton

Does anyone agree they should pull out of the purchase?

Say the roof needs repairing - do we really think the Crown/Treasury/whoever is going to be efficient to deal with? I wouldn't touch a place I know didn't have a freeholder, so onward sale could be a problem in my eyes.

They've had a problem with the seller putting off E&C already - it should be simple, they're FTBs and the seller's going travelling, but she's postponed it because she failed an exam and wants to resit before leaving. I said when this happened it was sounding problematic, now with this too....

lynzpower

Say the roof needs repairing - do we really think the Crown/Treasury/whoever is going to be efficient to deal with? I wouldn't touch a place I know didn't have a freeholder, so onward sale could be a problem in my eyes.

Id imagine that "the crown" would have managing agents who would deal with repairs? thats what my housing association do.

for the naffing about though, Id say leave it, but I wuldnt on this point until it was clarified who would be managing .

Xbigman

Do you mean there is no management company or the like? If so then who are they paying ground rent or maint charges to? In any event the leaseholders responsibilty should be outlined somewhere, IE in the lease. If the crown takes over the leaseholders responsibilities and it includes maintenance then they must legally honour the terms of the lease.

Thats only what I would assume, I've never heard of the crown grabbing title like this although I was aware the crown can grab someones estate if they die with no next of kin.
Regards



X

cattie

It may be wise to be cautious with this purchase. In the area that I used to live in there was a large amount of flats who had the Dutchy of Cornwall as their freehold landlord. The buildings were not maintained well by Prince Charles so eventually needed a large amount of work & money spent on them to bring them up to scratch.

Best be guided by the solicitor as you pay them to alert you about any negativity regarding a purchase.