We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Leasehold query when buying a house
dangers
Posts: 1,457 Forumite
We are currently buying a new house, however there is one issue outstanding before our Solicitor will allow us to exchange..
At the front of the property is a small strip of land - the drive goes over it and a small section with shrubs that are owned by the LA and leased to the owner of the house for a sum of 5 shillings per year (contract drawn up in 1927!).
Our Solicitor has said that we need written permission from the LA transferring the lease to us before we are able to proceed; however the vendor's Solicitor has stated that all that needs to happen is that they assign the benefit of the lease to us in writing and that once the sale has completed, that we write to the LA stating that we are the new owners.
Does anyone know who is correct? If it is our Solicitor, then we could be waiting ages, as the LA have stated that it falls low on their list of priorities.
Many thanks for any answers
At the front of the property is a small strip of land - the drive goes over it and a small section with shrubs that are owned by the LA and leased to the owner of the house for a sum of 5 shillings per year (contract drawn up in 1927!).
Our Solicitor has said that we need written permission from the LA transferring the lease to us before we are able to proceed; however the vendor's Solicitor has stated that all that needs to happen is that they assign the benefit of the lease to us in writing and that once the sale has completed, that we write to the LA stating that we are the new owners.
Does anyone know who is correct? If it is our Solicitor, then we could be waiting ages, as the LA have stated that it falls low on their list of priorities.
Many thanks for any answers
0
Comments
-
How long is the lease? If it expires in 5 years, it won't matter much how it is transferred since in 5 years time you'll have no right of access to your home.0
-
The rest of the property has a 999 yr lease, this one doesn't actually specify - or certainly the info we have doesn't.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.3K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.4K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards