Leasehold and Freehold problem

hopeitwill

Land_Registry said:

More a case of it could rather than will. All depends on finding them and getting them to complete the necessary forms etc 
Once lodged for registration it can be expedited  (2 weeks or less) if all in order 

Thank you again, reaaally appreciated. I also just downloaded the title plan for the freehold registry. 

The freehold tenure refers to the whole of the land, front-garden, house and the back garden.
But it also refers to two charges registers which gives info on the leasehold tenures.

One for the majority of the land which is owned by the current vendor, but a very very small part of the back garden in the very back is on leasehold and the registered owner is the previous owner.

It all just seems ridiculous, and I'm not blaming the vendor for not knowing about this but the timescales involved is a little scary.

greatcrested

At some point in the past the freeholder (of the entire plot) created two seperate leases, for the house and backyard.

The lease on the house and the frehold are owned by your landlord, and he can sell these without problem.

He cannot sell you the lease to the yard since this is owned by a n other. This could be because of an error when when your LL bought the house, or could be deliberate. Perhaps the owner of the lease to the yard wanted to keep it? Unlikely, but possible, in which case he may still want to keep it, meaning you would have no rights to the backyard if you bought only the freehold and house's lease.

If it was an error, and assuming the owner of the yard's lease can be found,and is willing to put things right, without cost, or delay, then the LR Rep's timescales are helpful.

But even if he is found, he may want to take legal advice himself before doing anything, may not understand, or may be unwilling to cooperate. Who knows?

hopeitwill

greatcrested said:

At some point in the past the freeholder (of the entire plot) created two seperate leases, for the house and backyard.

The lease on the house and the frehold are owned by your landlord, and he can sell these without problem.

He cannot sell you the lease to the yard since this is owned by a n other. This could be because of an error when when your LL bought the house, or could be deliberate. Perhaps the owner of the lease to the yard wanted to keep it? Unlikely, but possible, in which case he may still want to keep it, meaning you would have no rights to the backyard if you bought only the freehold and house's lease.

If it was an error, and assuming the owner of the yard's lease can be found,and is willing to put things right, without cost, or delay, then the LR Rep's timescales are helpful.

But even if he is found, he may want to take legal advice himself before doing anything, may not understand, or may be unwilling to cooperate. Who knows?

Thank you greatcrested. 

The image is a representation of how it looks like. The blue line on the edge is for the freehold. But there are two leaseholds, 1 for the pink area that says 1 and another one for the area that says 2 which is owned by the previous owner that muddies the water for us.

hopeitwill

As a side question, and maybe asking for speculation here but how would the lender react to this complication? I hardly think they would be thrilled to release funds in a situation like this.

davidmcn

hopeitwill said:

As a side question, and maybe asking for speculation here but how would the lender react to this complication? I hardly think they would be thrilled to release funds in a situation like this.

They wouldn't simply go ahead on the current basis. You could just forget about the bit at the bottom of the garden for the meantime and buy the remainder of the property, but the lender would want to revalue first.

hopeitwill

Thanks davidmcn, my OH is just being too comfortable with this. We're already paying 20k+ over the desktop valuation because he wanted the house so much and we thought the house was completely freehold, not partly. With this it just seems silly to go ahead with it.