Do I need to extend my own lease?

HelpIamconfused

Situation:

Property converted into 2 flats
I own the freehold for the whole property
I also have a lease on my flat
The other flat is owned by someone else and I have recently extended their lease.

Do I need to extend my own lease as there is 57 years left - not looking to sell.

G_M

No need.


But if/when you sell, then yes.


I suppose if you were to die your Executors and/or Beneficiaries could extend the lease if they were planning to sell. It might make life slightly easier for them if the lease was already, say, 999 years.

da_rule

Alternatively, and if there is no mortgage secured against your leasehold title, you could determine the lease by merger. You would then only have one title (the freehold) which would be subject to the other lease. When you come to sell you can either grant a new lease and retain the freehold or sell the freehold.