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Buying a leasehold
Marko47
Posts: 1 Newbie
Hi
I had an apartment where we had problems with the leaseholder so we decided to buy the lease as a company and 10 out of 17 signed a participation agreement so I could sell in the future as a freehold. I then decided to sell my property before it all went though my solicitor never brought it up . Now they have sent me the final invoice of £7000 to be paid before 1st April and the solicitors say im liable for the costs even through I don’t own the property ??
I had an apartment where we had problems with the leaseholder so we decided to buy the lease as a company and 10 out of 17 signed a participation agreement so I could sell in the future as a freehold. I then decided to sell my property before it all went though my solicitor never brought it up . Now they have sent me the final invoice of £7000 to be paid before 1st April and the solicitors say im liable for the costs even through I don’t own the property ??
I need and how to get out of this please 🙏🏻
Thanks in advance
Mark
Mark
0
Comments
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Most of your post doesn't make any sense....
You already owned the lease. Did you mean buy the freehold?Marko47 said:I had an apartment where we had problems with the leaseholder so we decided to buy the lease as a company
Selling your lease is a different thing to selling your share of the freehold. Did you inform your buyer and solicitor that you wanted to sell your share of the freehold as well?Marko47 said:I then decided to sell my property before it all went though my solicitor never brought it up . Now they have sent me the final invoice of £7000 to be paid before 1st April and the solicitors say im liable for the costs even through I don’t own the property ??
If not then you still own a share in the company that owns the property and will have to pay the costs that you originally agreed to.0 -
The short answer - you probably can't get out of paying the £7k. You probably signed legal contracts agreeing to pay.- Is the £7k just for costs?
- Or is the £7k for costs and a share of the company that will own the freehold?
If it's just for costs - you won't get anything back for your £7k
If it's also for a share of the company - you might be able to get a bit of cash for selling the share to somebody else. It depends what the documents say that you signed. (The documents might say that you are forced to give the share to whoever bought your flat, and they probably won't give you any money for it.)
Since it depends on what the documents you signed say - it's probably best to ask your solicitor.
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