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Split title deed
Her0
Posts: 2 Newbie
My parents currently own a semi D. My sisters and I ( total 3 person) have plans to redevelop the house so that our families can stay together. Is it possible to split the title deed?
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Comments
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Assuming that the land size is about 3500sqft. Is it possible to rebuild to 4 stories with each level having a floor area of 2000sqft?0
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Assuming that the land size is about 3500sqft. Is it possible to rebuild to 4 stories with each level having a floor area of 2000sqft?
You would have to ask your local planners. If there are no other 4 storey buildings nearby, the answer may be noIf you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales0 -
"Split" in what way? Do you mean converting it into flats?0
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OP -
you can transfer part of a freehold which creates 2 legal titles - but you are not going to be doing that here
you can grant four leases at a peppercorn rent for 999 years to the four occupiers to divide the property into 4 units (and presumably some common parts). This will create four titles (albeit long leasehold titles - in theory these would be valuable interests capable of being sold / mortgaged). This would not be mortgage-able on the mainstream market without giving consideration to planning, council tax and building regulations.0 -
your first issue is planning. Will the local authority grant planning permission for what you want to do?
As for the title - no you would only split it, and create 2 (or 3, 4) separate freehold Titles if you were physically dividing up the land.
What you seem to plan is to build upwards, so that all 4 units sit on the same land. So you would keep a single freehold title for the land, but create 4 separate leasehold Titles - one for each flat or unit.
Legally straightforward.0
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