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Shared Freehold loft conversion
m3ckon
Posts: 12 Forumite
Hi guys,
I live in a large victorian house which is split into 6 flats, 4 in the house and another 2 in a converted music studio. My flat is the top floor of the house and has access to the loft space which is owned by the freeholders.
The roof of the property needs some work doing, so I have proposed to the freeholders that I will fix this and take ownership of the roof in exchange for sole ownership of the loft space. Before I proceed any further, I wanted to be clear on what my costs would be for changes to leases and freeholds?
I am proposing that I'll pay any legal costs as part of this arrangement, but I'm not sure what will need changing?
1) Do I have to have every lease amended for all 6 flats?
2) Do I have to amend the freehold agreements for the 4 freeholders?
3) Would I have to amend just my lease?
If anyone knows the answers and any idea of what the legal costs here could be, I'd be very grateful.
Thanks,
K
I live in a large victorian house which is split into 6 flats, 4 in the house and another 2 in a converted music studio. My flat is the top floor of the house and has access to the loft space which is owned by the freeholders.
The roof of the property needs some work doing, so I have proposed to the freeholders that I will fix this and take ownership of the roof in exchange for sole ownership of the loft space. Before I proceed any further, I wanted to be clear on what my costs would be for changes to leases and freeholds?
I am proposing that I'll pay any legal costs as part of this arrangement, but I'm not sure what will need changing?
1) Do I have to have every lease amended for all 6 flats?
2) Do I have to amend the freehold agreements for the 4 freeholders?
3) Would I have to amend just my lease?
If anyone knows the answers and any idea of what the legal costs here could be, I'd be very grateful.
Thanks,
K
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