Can a property be freehold and leasehold?

propertyman

curedham wrote: »

Semantics, my post explained the same concept in its entirety. It's EA and lay speak (at least from those that I know) to say share of freehold flats. My solicitor & EA always refer to the "underlying lease" of the flat.

No thats wrong too- your post persisted in the notion that SOF exists which it does not.

The lessee owns a flat

A number of people or a company own a freehold

That two very different things......


And at the heart of so many problem that flat buyers are confronted with by believing this delusion.

eg " What do you mean my lease is 75 years and I have to pay my neigbours £15000 to extent- I am shared freehold":eek::rotfl:

xylophone

Is there a limited company that holds the freehold and each lessee holds one share in the company?

curedham

propertyman wrote: »

No thats wrong too- your post persisted in the notion that SOF exists which it does not.

eg " What do you mean my lease is 75 years and I have to pay my neigbours £15000 to extent- I am shared freehold":eek::rotfl:

Yes it does exist and again it's semantic. You own the lease to the flat, but you also own a share in the company that owns the freehold. Thus share of freehold, this is a simple concept. If there are a handful of flats in the building, you manage it yourself, which was the case in my flat before I sold.

And no we didn't charge each other 15,000 whenever anyone wants to extend the lease, nor do we charge each other ground rent. Just email everyone "I think we need to do X and it's going to cost Y" and that's that.

I owned one, so I know how it works.