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!
Selling and share of freehold
msagredou
Posts: 1 Newbie
Hi all
Not sure if this has happened to anyone before.
Me and my ex own a flat which is in both names. We both still pay for the mortgage. We are in the process of buying a share of the freehold (there are 8 flats in the building) but I know that he wont have any money so I will have to pay for the share and have it in my name.
What will happen when we sell the flat? Will the money be split in half or do I get a higher share because the share of the freehold will be in my name?
Not sure if this has happened to anyone before.
Me and my ex own a flat which is in both names. We both still pay for the mortgage. We are in the process of buying a share of the freehold (there are 8 flats in the building) but I know that he wont have any money so I will have to pay for the share and have it in my name.
What will happen when we sell the flat? Will the money be split in half or do I get a higher share because the share of the freehold will be in my name?
0
Comments
-
How long will the lease be?Posts are not advice and must not be relied upon.0
-
??????????How long will the lease be?
The lease already exists, and is in both their names. It's length is irrelevant to this query.
The share of freehold will be in your sole name. When you sell the flat(ie the lease) you can either keep the freehold share, or offer to sell it at the same time, at whatever the market value is.0 -
Will the current lease length be a factor in the value of the freehold?Posts are not advice and must not be relied upon.0
-
Yes the term left on the lease will impact upon the value of the freehold.
Anything less than 80 years left will attract what is known as marriage value (which is an extra cost)
Have a look at http://www.lease-advice.org/
:beer:0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.2K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.3K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards