Leasehold Extension (Freehold)

713price

Thanks for all the responses - really appreciate it. We agreed when we bought the freehold between us that the two shorter leaseholds would be extended to 189 years each. Neither of the leaseholders have a mortgage and would expect to pay the costs of the Deed of Variation (ie any legal fees) themselves (ie it wouldn't be a shared cost on the LH who already have the extension). Thanks

Land_Registry

Have you referred to our Practice Guide

And as an aside only, is the freehold registered in your individual names? If so it might be worth looking at options around that as well. For example when you sell your flat and share of the freehold you’ll need the other FH’s to get involved and I’ve seen many examples of where that can be problematic. And even more so when a LH sold but they forgot to transfer the FH as well.

713price

Land_Registry wrote: »

Have you referred to our


And as an aside only, is the freehold registered in your individual names? If so it might be worth looking at options around that as well. For example when you sell your flat and share of the freehold you’ll need the other FH’s to get involved and I’ve seen many examples of where that can be problematic. And even more so when a LH sold but they forgot to transfer the FH as well.

Thank you for your helpful response - we have a management company and the 4 Leaseholders are also the shareholders - is this what you meant? A flat was recently sold and th.e share of the freehold was conveyed as part of that transaction. The shareholder are also the Directors of the company and we employ a managing agent to take care of practicalities to do with the building

eddddy

713price wrote: »

T We agreed when we bought the freehold between us that the two shorter leaseholds would be extended to 189 years each.

Why not extend to 999 years? It will cost the same.

And extending the other two leases to 999 years at the same time would be relatively cheap.