Freehold /leasehold confusion - what to do

s67

I have recently received a letter from Comptons dictating which insurance I should use at they have an interest in the leasehold of my property. They collect my £5 ground rent every year and often write to me dictating the insurance company.
This year I thought I would buy the freehold and stop all this nonsense.

Years ago I looked into this and was told by Compton's who owns the freehold. A company called Frank Marshall & co. I contacted them and they gave me a quote. I contacted a solicitor and got a quote and when I added it all up I thought it was all too expensive.

Comptons also gave me a quote for buying out their interest in the leasehold.

Today I purchased the title register and title plan from the land registry web site to see who owns the freehold on there. There is no mention of a freehold owner only a registered owner of a number of plots of land (inc mine) to a company called tapestart who turn out to be comptons.

I have e mailed comptons again and asked who is the freehold owner like I did all those years ago, this time they tell me the freehold is unregistered and I can still buy out their interest in the leasehold.

Now I am worried/confused .

What can I do in this situation? I started out wanting to buy the freehold but now dont know where to start. What would buying comptons interest in the leasehold do?

Thank you

AdrianC

The freehold being unregistered doesn't mean nobody owns it - it just means the ownership isn't registered at the Land Registry.

Comptons may well have a headlease on the entire site, or they might just be retained as managers. What does your lease say?

s67

quick update. The freehold has never been registered and is in the hands of the solicitors and has been for years! No idea when it will be registered. I did hear a piece on the radio about this, lack of people on the ground to register the properties, big problem for people wanting to sell. So concluding I can not buy an unregistered freehold.

I can however still buy the leasehold interest from Comptons but can not work out what value it has as I would still need to pay ground rent and I can deal with the insurance issue.

comptons have the lease on the even number houses on the road. They have a "good" leasehold

s67

next question where does this leave me if I wanted to sell?

G_M

I don't understand what it is you own, and what is Compton's "interest in the leasehold"


As has been explained, the freehold IS owned by someone - it i simply that it is not registered at the Land registry. Untill the 1970s/80s this is how ALL property was owned.


Property only has to be registered with the Land Registry if/when it is sold.


Once you know who owns the freehold, you can buy it from them. You will then have to register it with the LR with yourself as the owner.

s67

I have found out the freehold is in the process of being registered so i can not buy it

I own a house

G_M

s67 wrote: »

I have found out the freehold is in the process of being registered so i can not buy it

I own a house

Well you can offer to buy it. The freeholder could either
* refuse
* complete the registration and then sell to you, or
* cease the registration, sell to you unregistered, and you would then register it


If you don't ask/offer, you won't find out which!


Ok so you own the lease on a house yes? And what is Compton's "interest in the leasehold of my property"?

s67

Comptons collect the ground rent, they demand i buy their recommended insurance under the rules of the lease or pay £60 admin to use my own insurance. They are listed as having a good lease on the title register

G_M

Are you saying

* there is an un-named and unregistered freeholder, possibly Frank Marshall & co, or "in the hands of the solicitors" on behalf of 'someone else'? But whoever it is it is in the process of being registered? (Who told you this?

* there is a Head Lease, registered, owned by Comptons?

* you own a sub lease (I assume also registered?)?

Is that the set-up? Does your sublease appear within Comptons Head Lease?

If so, your claim that "they have an interest in the leasehold of my property" is incorrect. They have no interest in your lease on the property, they have their own Head Lease.


Unless I've interpreted this wrong.


But it seems that before you can either seek advice here, or move forward with any freehold purchase or other act, you need to clarify the legal set-up for your own benefit.

s67

Ok.
I spoke to the solicitor who represents the owner of the freehold. They told me it was in for registering and had been a while. He said the owner would sell but not until it uscregistered. The info from the land registry does not have my name on it anywhere which worries me. The solicitor of the owners ( they are a group)suggested comptons could have bought one of the freehold owners out. I have called comptons today twice but the staff just seem like call centre type staff, not completely knowledgable. I asked them who the freeholder was and they said it was just un registered. I then asked what comptons interest in my lease meant and the guy was not sure. I then said why would i buy your interest when i can buy the freehold. He did not know he then said comptons would then pay me the annual ground rent. I only wish this were true.i will write to comptons tommorrow to ask what their interest is and hopefully get a proper answer.

s67

Ps the info from the land registry is for plots for a group of even number houses on my road. So non of the owners uf the houses are listed. The years left on the 999 year leases are listed. Set up in 1938.