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FAQ Flats, Leases, Freeholds Share of, don't let it do your head in!
Comments
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Which Hamish is not a lot of use to those buying a flat in England and Wales.:)
i will link to my forthcoming formal article in the joke that is commonhold.
and no us Scots don't have share of freehold either .......Stop! Think. Read the small print. Trust nothing and assume that it is your responsibility. That way it rarely goes wrong.
Actively hunting down the person who invented the imaginary tenure, "share freehold"; if you can show me one I will produce my daughter's unicorn0 -
propertyman wrote: »Which Hamish is not a lot of use to those buying a flat in England and Wales.:)
True.
But I still maintain there is really no reason for the English to accept such a poor way of doing things....
And the Scottish way is far better IMO.
I'd find the concept of paying a ground rent or paying to extend a 'lease' under the property I owned to be abhorrent.commonhold.
As a matter of principle the owners of buildings, or any part thereof, should also have an ownership interest in the land the buildings stand on.
Whatever vehicle or legal entity is used to accomplish that is not the point, there are many options available, but the underlying principle remains....
Leasehold is an antiquated relic of the feudal system.
It should have no place in modern Britain.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Paragraph 1?propertyman wrote: »My article, my style
Easy tiger. There are no typos ( fair enough the last 2 para hadn't saved changes so gold star:T) but don't conflate grammar with the article's voice.....
:beer:A Please forget what you think you know, and abandon your rationalisations preconceptions and expectations; “Leasehold Law” has it’s own set.0 -
HAMISH_MCTAVISH wrote: »And it should be noted that most of the above is not applicable in Scotland, where most flats just own a share of the freehold and maintenance is done through a factor or by owners just clubbing together for common repairs.
For that matter, it's not applicable just about anywhere outside of England and Wales. Cooperative flat ownership is common across the rest of Europe, condominium ownership is common in the US, and strata-titles are the preferred option in Australia.
All of them provide flat owners with full ownership rights over both the flats and the land flats sit on, with collective control over the management of common areas and repairs, and eliminates the need for ground rent or expensive lease renewals.
Leasehold is an antiquated relic of the feudal system.
It has no place in modern Britain and I have no idea why you English put up with it.;)
I gather a version of it exists in Hawaii as well as England and Wales. When I first heard how leasehold works my jaw dropped at the ghastly unnecessaryness of it.:eek:There is no honour to be had in not knowing a thing that can be known - Danny Baker0 -
I gather a version of it exists in Hawaii as well as England and Wales. When I first heard how leasehold works my jaw dropped at the ghastly unnecessaryness of it.:eek:
Until they see a commonhold assessment and community statement and think " er not a lot of difference".
And realise that the rights that leaseholders have don't apply to them:eek:.
Give me 3 examples of " ghastly unnecessaryness"Stop! Think. Read the small print. Trust nothing and assume that it is your responsibility. That way it rarely goes wrong.
Actively hunting down the person who invented the imaginary tenure, "share freehold"; if you can show me one I will produce my daughter's unicorn0 -
Paragraph 1?
:beer:
Again, don't conflate voice with grammar. Until you understand one you cannot apply the other, and, clearly, you have yet to understand the first.Stop! Think. Read the small print. Trust nothing and assume that it is your responsibility. That way it rarely goes wrong.
Actively hunting down the person who invented the imaginary tenure, "share freehold"; if you can show me one I will produce my daughter's unicorn0 -
Good Job. I thought the tone and language was spot on.
I wish they had explained it that clearly and concisely when I was at college.0 -
propertyman wrote: »Again, don't conflate voice with grammar. Until you understand one you cannot apply the other, and, clearly, you have yet to understand the first.
Well you need to write us all a guide to grammar too, to explain why 'it's' has that apostrophe in that 1st para then...
Grammar-picking aside, thanks for a great post.Mortgage - £[STRIKE]68,000 may 2014[/STRIKE] 45,680.0 -
Might need to clean your screen?
Appreciate the thanks. Stop! Think. Read the small print. Trust nothing and assume that it is your responsibility. That way it rarely goes wrong.
Actively hunting down the person who invented the imaginary tenure, "share freehold"; if you can show me one I will produce my daughter's unicorn0 -
Excellent! Now can I be cheeky and ask if you can do similar about Freehold houses. I have experienced 2 scenarios and am still not sure I understand it. I suspect that people think that if they own the freehold then they think that they do not have to answer to anyone (subject to local planning).
1. Previous house (built 1994) - Shared ownership and leasehold. After 1 year had option to buy full house which we did and the freehold. Freehold document still reads pretty much the same as the lease document (lots of pages) and still clause to pay service charge (don't get me started on the service charge!!)
2. New house (built in the 60s) - freehold. No service charge! but covenants about not extending the property without permission or inserting windows which overlook. Not run a brewery in property. Original people named on lease were the Landowners of the area (duke?) but now a solicitors and a named person.Ditch 100 in January Challenge 100/100
Ditch 100 in February Challenge 114/100
Ditch 100 in March Challenge 100/100
Ditch 100 in April Challenge 75/1000
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