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Can I alter a lease before selling?
roddy128
Posts: 1 Newbie
Hi I am new on the forum and would like some advice please if possible. I own a small shop and have a self contained flat above which I also own and these were bought on separate titles. The commercial shop is freehold and the flat above is leasehold. On finding the lease for the flat above it looks like even if i sell the flat I am liable for the roof and framework of it . Once I sell the flat I dont really want someone coming back on me for roof repairs? as I am the freeholder can I alter the lease for upstairs before I sell it and is it going to cost a lot to do this..
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Comments
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You'll have trouble finding someone to buy the flat if it comes with sole liability for the roof and structure - it is normal for such things to be shared. But in theory yes if you are both freeholder and leaseholder for the whole building then you can do what you like with the leases,.2
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Would you expect to pick up the entire bill if subsidence occurred as it is only on the bit under your shop unit?0
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Who drew up the lease? Please quote the relevant section here as it sounds strange....roddy128 said:. On finding the lease for the flat above it looks like even if i sell the flat I am liable for the roof and framework of it . .....0 -
If you own the freehold of the building, you are free to change the lease of the flat in any way you choose - or rewrite the lease if you prefer.
In your position, I would approach it like this...- "How can I structure the flat lease (and the shop lease) and repairing responsibilities to generate the highest selling prices?"
And when rewriting the lease, maybe consider things like- ...whether changing the lease structure could make the flat easier/more difficult to mortgage
- ...whether there is scope for the new flat owner to convert the loft (e.g. to make an extra bedroom)
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