Extending a lease if I own the Freehold and the Leasehold

[Deleted User]

Hoploz wrote: »

Yes you would just need to come to an agreement with yourself

I often talk to myself, but I don't often agree

groodt

Ok, thanks.

So, to recap, as owner of the FH and both LH, I will be able to extend at any time and only legal fees will be applicable. Therefore, it would only make sense for me to extend a lease when preparing for any future sale of one of the flats (and therefore a LH or FH+LH) or the entire property FH + 2xLH.

Mostly theoretical now, but is there any danger in a LH expiring if I own the FH? I can simply extend it if required or create a new one somehow? Purely legal costs?

Thanks!

divadee

As you are purchasing the other flat now why not ask your solicitor how much they will charge in fees to extend both leases now! Will save any hassle later on and you could make them both 999 years for not that much more fees!!

Richard_Webster

Quote:
Originally Posted by Richard Webster View Post

"You can't grant a lease to yourself. If you want to sell one of the flats leasehold then you merge the present one into the freehold and grant a new lease for however long you want."

But presumably the OP could extend an existing lease, even if he owns both free and lease?

No he can't because he will be granting it to himself. He simply waits until he wants to sell the flat leasehold and either grants an entirely new lease (having got rid of the existing one), or messier, sells the existing lease and tehn extends the lease once someone else owns it. Another way round it is to grant a new lease now to OP and his wife/partner/friend jointly.

In theory acquistion of both freehold and leasehold interests ina property kills off the lease immediately. This doesn't work if, for instance the lease has a mortgage on it or extends to additional land.

In practice the Land Registry keep both titles going until the owner of both applies to merge them (and therefore kill off the lease).

In Eastleigh where I practised there were a lot of 1900 ish houses with 999 year leases which gave a right to use a rear accessway (important so you could get to your garage at the back!). When lessess bought their freeholds they didn't get a freehold right to use this access - so we kept the lease going (and didn't merge it) for that reason.