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Leasehold property
Comments
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Thanks again you have been most helpful.
Could I ask one last question. Just rereading the lease and it says at the end of the lease period the property is to be returned back to the landlord. Is this just standard terminology and will never actually happen or will who ever is leasing the property at that time have to hand it back?
Just worried now that if whatever reason we didn't settle in this house until we retire this many put people off buying the house.0 -
ConfusedLady wrote: »Thanks again you have been most helpful.
Could I ask one last question. Just rereading the lease and it says at the end of the lease period the property is to be returned back to the landlord. Is this just standard terminology and will never actually happen or will who ever is leasing the property at that time have to hand it back?
Just worried now that if whatever reason we didn't settle in this house until we retire this many put people off buying the house.
Will not be an issue unless you are planning on retiring in about 200 years.0 -
It is standard that after the lease expires it reverts to the freeholder, but unless the property is abandoned and forgotten that would never happen. The lease agreement will give the leasholder the right to extend the lease, at a cost. If you held the lease and let it expire you would be very silly indeed.Changing the world, one sarcastic comment at a time.0
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No problem. Please do go to the lease-advice.org website, it's a great resource and will tell you almost anything you might want to know.0
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You're lucky to have 250 years... round our way they're more like 99 - 125 years and we're having sklight issues with selling our flat due to there being under 90 years on it (though luckily fairly sortable in our case as the freeholder lives upstairs and we know extended it for previous owners at a more than fair sum)0
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