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Help! Rules on a lease (with share of the freehold)
Ryca2007
Posts: 2 Newbie
This may be confusing!
We live in the ground floor flat of a converted house with just one flat upstairs (the house was split in two) We own a share of the freehold and both flats have a part ownership of the lease(basically past owners both bought the leasehold from the landlord so any subsequent owners also own the lease of the property - so in essense, as I understand it, we are our own landlord!).
It says on the lease not to assign underlet or part possession of the property and also only to be used as private residence (not sure if that bit is relevant).
We are interested in possibly moving out and renting our property, does the lease prevent us from doing this?
Finding it all very confusing!
** Edited to add, I made a mistake in the wording, the lease says:
"not to assign underlet or part with possession of part only of the premises"
We live in the ground floor flat of a converted house with just one flat upstairs (the house was split in two) We own a share of the freehold and both flats have a part ownership of the lease(basically past owners both bought the leasehold from the landlord so any subsequent owners also own the lease of the property - so in essense, as I understand it, we are our own landlord!).
It says on the lease not to assign underlet or part possession of the property and also only to be used as private residence (not sure if that bit is relevant).
We are interested in possibly moving out and renting our property, does the lease prevent us from doing this?
Finding it all very confusing!
** Edited to add, I made a mistake in the wording, the lease says:
"not to assign underlet or part with possession of part only of the premises"
0
Comments
-
Yes.....
It says on the lease not to assign underlet or part possession of the property.....
We are interested in possibly moving out and renting our property, does the lease prevent us from doing this?
However the only person who can neforce this clause in the lease is the freeholder.
You do not say how many others share the freehold but I assume it is the owner of the upstairs flat 50/50? In which case - what is your upstairs neighbour like?0 -
Hi the share of the freehold is 50/50...
I have just had a look at the wording on the lease and it actually says:
not to assign underlet or part with possession of part only of the premises.0 -
Ah! Very different!
'part only' means you cannot split the flat in two and dispose of half. It's all or nothing.0
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