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Freehold land registry charge
Daveythomas31
Posts: 1 Newbie
Hi,
I am looking for some help as trying to extend the lease on my flat has turned into a nightmare! My sister and husband wanted to buy the flat so about a year ago I started the process of extending the lease as I wanted to the lease to be longer so they could get the best possible mortgage deal as my lease has around 70 years remaining. All appeared to be going well as the extension and costs were agreed when my solicitors informed me that it had been brought to the freeholders solicitors attention that there was a charge on the freeholders title restricting them from dealing with the freehold, which means the lease extension cannot be completed until the charge is removed. Apparently the charge was put on by a finance company in 1990 and apparently should have been removed when the last flat was sold but it wasn't. What makes matters worse is this company has since gone out of business! Anyway the matter is becoming very protracted and I don't know when it will get sorted. I wanted to know whether this should be preventing me from extending the lease? Surely the money I pay for the lease extension can go to the liquidators and if the freeholder is disputing the charge should have been removed it is between them and the liquidators and land registry?
I am looking for some help as trying to extend the lease on my flat has turned into a nightmare! My sister and husband wanted to buy the flat so about a year ago I started the process of extending the lease as I wanted to the lease to be longer so they could get the best possible mortgage deal as my lease has around 70 years remaining. All appeared to be going well as the extension and costs were agreed when my solicitors informed me that it had been brought to the freeholders solicitors attention that there was a charge on the freeholders title restricting them from dealing with the freehold, which means the lease extension cannot be completed until the charge is removed. Apparently the charge was put on by a finance company in 1990 and apparently should have been removed when the last flat was sold but it wasn't. What makes matters worse is this company has since gone out of business! Anyway the matter is becoming very protracted and I don't know when it will get sorted. I wanted to know whether this should be preventing me from extending the lease? Surely the money I pay for the lease extension can go to the liquidators and if the freeholder is disputing the charge should have been removed it is between them and the liquidators and land registry?
0
Comments
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Daveythomas31 wrote: »Surely the money I pay for the lease extension can go to the liquidators and if the freeholder is disputing the charge should have been removed it is between them and the liquidators and land registry?
Nope, it doesn't work like that. Which is why that isn't what is happening. The freeholder will need to sort it out first.0
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