Who owns the loft?

mart.vader

leeroybrown123 wrote: »

Technically I own half the lease as she does.

leeroybrown123 wrote: »

The freehold document names me and the neighbour as the joint freeholders.

stebiz wrote: »

You can go online and pay £3 and see who is the registered Freeholder. To get the lease you need to apply in writing by filling in a form and it costs about £20 - or it was last time I got one about a year ago.

Hasn't the OP answered this one ?

stebiz

mart.vader wrote: »

Hasn't the OP answered this one ?

No, because he has a 125 year lease not a Freehold.

macman

So each flat owner has a leasehold flat and some kind of joint freehold?

stebiz

macman wrote: »

So each flat owner has a leasehold flat and some kind of joint freehold?

There are only two flat holders. Ground floor and the OP upstairs. Through experience the Ground Floor normally has the Freehold and Head Lease and the one on the first floor would have a leasehold.

cattie

I think stebiz is totally confusing you. There is no head lease. You have already stated that you & your neighbour own the freehold jointly. Therefore you are both the freeholders & will each also have a lease for each of your properties The lease lengths are probably the same as the property was converted in 1994.

As you are joint freeholders and your neighbour has mentioned that she has no objection to you having the loft converted if it is not already demised in your lease to your property ( although it sounds as if it is by the excerpt you've stated above), then you would really need to see a solicitor.

You've already mentioned having a deed of variation drawn up reflecting the loft conversion & responsibility of the roof, so are very wise in trying to ensure all the legalities are taken care of.

Have a look here & perhaps give them a ring if you need more info on what the best steps to take are. It's a government funded agency giving advice on all aspects of owning leasehold property. http://www.lease-advice.org/

Everybody who has a share of freehold always also owns a lease for their property.

mart.vader

stebiz wrote: »

There are only two flat holders. Ground floor and the OP upstairs. Through experience the Ground Floor normally has the Freehold and Head Lease and the one on the first floor would have a leasehold.

Not in my experience. Two flats on leasehold. One separate Freeholder of both flats.

Leaseholders can buy the freehold either jointly or one can buy it solely.

http://www.lease-advice.org/information/faqs/faq.asp?item=9

"How can I buy the freehold of my building?


Leaseholders have a legal right under the Leasehold Reform, Housing and Urban Development Act 1993 to act together to buy the freehold of their building if they meet certain qualifying criteria. This is known as collective enfranchisement. Alternatively, it is possible for leaseholders to negotiate with the freeholder informally to buy the freehold by agreement."

edit: Sorry cross-posted with cattie

stebiz

mart.vader wrote: »

Not in my experience. Two flats on leasehold. One separate Freeholder of both flats.

Yes that is true also or if the original owner created the lease then they'd be the owner of the Freehold. But the question is who owns it?

Ectophile

I'm baffled as to why some posters seem to be struggling with the concept that the leaseholders of a building can buy out the freehold - and then sell on their share of the freehold when they sell the lease. :huh:

I think the OP has made it abundantly clear by now that they know exactly who is the freeholder of the building - it's themselves and the other leaseholder, each owning a 50% share of the freehold.

To the OP - you really need to get proper legal advice on this from a proper lawyer, not a bunch of random people on a forum who have never seen the lease. They will have more chance than any of us at decoding what the lease says.

stebiz

Ectophile wrote: »

I'm baffled as to why some posters seem to be struggling with the concept that the leaseholders of a building can buy out the freehold - and then sell on their share of the freehold when they sell the lease. :huh:

I think the OP has made it abundantly clear by now that they know exactly who is the freeholder of the building - it's themselves and the other leaseholder, each owning a 50% share of the freehold.

To the OP - you really need to get proper legal advice on this from a proper lawyer, not a bunch of random people on a forum who have never seen the lease. They will have more chance than any of us at decoding what the lease says.

Okay he gave himself a 125 year lease :wall:

blackiel

I bought a first floor flat,part of a converted house,16 years ago,i now own the grd floor flat,since feb 2014, first floor 73 years,grd floor 70 years remaining on the lease......Would i be better extending the lease or going for the freehold,and does freehold mean exactly that,that i can do as i want with the property and no more leaseholder,...Many Thanks..