My lease allows me to park on driveway, will i retain this if i sell?

5abi

Hi guys

I have a leasehold flat for which I and 4 other leaseholders pitched in to buy the freehold for.

My lease is the only one that allows use of the single parking space on the front of the property. The lease mentioned specifically parking rights at the time of purchase. No other lease has this in the building.

Now that all the leaseholders own the freehold collectively, will my parking rights remain in place? The other leaseholders are now challenging this as the ownership of the freehold has changed even though only my lease mentions parking rights on the front of the property.

I am looking to sell my property and I want to ensure that the original rights to the parking space remain in force so that whoever I sell this to, also gets the same rights.

Any opinions / advice on this please?

G_M

Buying and owning the freehold has no effect on any of the leases.

The terms of each lease remain exactly as before.

If you or they wish to change any of the leases (eg to give a space to each flat's lease), it would require the agreement of 'The Freeholder' (ie the 4 of you), as well as the leaseholder who would lose a space (you), and the agreement of the leaseholders who would gain a space (the other 3).

It would also need the agreement of any mortgage lender involved.

Anyone losing out (eg you giving up 1 or more spaces) could demand payment in return for your agreement.

Tom99

You are lucky you have an allocated space with your flat so keep hold of it!

5abi

G_M wrote: »

Buying and owning the freehold has no effect on any of the leases.

The terms of each lease remain exactly as before.

If you or they wish to change any of the leases (eg to give a space to each flat's lease), it would require the agreement of 'The Freeholder (ie the 4 of you), as well as the leaseholder who would lose a space (you), and the agreement of the leaseholders who would gain a space (the other 3).

It would also need the agreement of any mortgage lender involved.

Anyone losing out (eg you giving up 1 or more spaces) could demand payment in return for your agreement.

This certainly does give me some comfort. The other leaseholders are getting advice from a leasehold specialist on this subject and are expediting this because I am putting my flat up for sale. I am unable to go to this meeting but I will provide a copy of my lease to the other leaseholders for the meeting.

Wish me luck guys. I paid extra for the parking space when buying the property.

Red-Squirrel_2

5abi wrote: »

This certainly does give me some comfort. The other leaseholders are getting advice from a leasehold specialist on this subject and are expediting this because I am putting my flat up for sale. I am unable to go to this meeting but I will provide a copy of my lease to the other leaseholders for the meeting.

Wish me luck guys. I paid extra for the parking space when buying the property.

A leasehold specialist solicitor? It should take about 30 seconds for them to be told they can't change the lease just because they want to.

5abi

Red-Squirrel wrote: »

A leasehold specialist solicitor? It should take about 30 seconds for them to be told they can't change the lease just because they want to.

You are awesome, what is your background may I ask? Are you a solicitor?

G_M

Red-Squirrel wrote: »

A leasehold specialist solicitor? It should take about 30 seconds for them to be told they can't change the lease just because they want to.

Hmmmm... he may charge them by the minute in which case it could take him 30 minutes to explain the same thing.......

5abi

G_M wrote: »

Hmmmm... he may charge them by the minute in which case it could take him 30 minutes to explain the same thing.......

Yes its £250 an hour.

eddddy

5abi wrote: »

Yes its £250 an hour.

Well that introduces a different set of issues.

I guess you'll be required to pay 20% of the solicitor's bill for dealing with daft questions.

Presumably the freehold is owned by a company which the 5 of you have shares in. Do you have a sensible process in place for deciding what the company should spend money on in future?

5abi

eddddy wrote: »

Well that introduces a different set of issues.

I guess you'll be required to pay 20% of the solicitor's bill for dealing with daft questions.

Presumably the freehold is owned by a company which the 5 of you have shares in. Do you have a sensible process in place for deciding what the company should spend money on in future?

Majority vote is the way to go with us. I voted against because it does not benefit me but everyone voted for so the funds will be spent regardless of my vote.

We have a sinking fund which we all contribute to monthly, although I have always been challenged for paying more because my flat is the biggest. We all pay the same right now. They want to charge according to the size of the property. I have resisted. They cant force me I guess.

Tom99

If the other leaseholders are obtaining advise you should not be paying a share of that. It is only if the freeholder is the one seeking advise that your contribution might come into play.

If the freeholder grants rights over the other three spaces be sure to point out you expect that to be done at market value and 25% of that profit paid to you.