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    • midget_tree
    • By midget_tree 3rd Oct 17, 9:43 AM
    • 2Posts
    • 0Thanks
    Leasehold question
    • #1
    • 3rd Oct 17, 9:43 AM
    Leasehold question 3rd Oct 17 at 9:43 AM

    I thought I would ask on here before going down the solicitor path. I want to downsize and going through old paperwork I am reminded that the property is leasehold, on a 1000 year lease. I bought the house in 1976 and was told by the then owners that the building company who owned the land were bombed out during the war, and no records were ever kept. I have never paid a penny in ground rent and have never heard from anybody claiming to be the landowner, likewise with all the neighbours. Looking at the land registry the entire street is leasehold.
    Obvious question is do I need to try and buy the freehold, even though there is nobody obvious to buy it off, or is there some quirk in the law whereby this has lapsed to freehold?

    Thanks in advance
Page 1
    • eddddy
    • By eddddy 3rd Oct 17, 11:18 AM
    • 6,503 Posts
    • 6,386 Thanks
    • #2
    • 3rd Oct 17, 11:18 AM
    • #2
    • 3rd Oct 17, 11:18 AM
    You can still buy the freehold, even if the freeholder is untraceable - a court would decide on the price you have to pay, and would hold the money, in case the freeholder ever turns up.

    Depending on the ground rent you pay, I suspect that the freehold would be very cheap (maybe a few hundred), but the legal fees might be quite a bit more.

    Buyers might be a bit more comfortable with a freehold than a leasehold.

    It removes the worry that somebody might turn up one day, saying they are the freeholder, and attempting to enforce the terms of the lease.

    But whether they'll offer an extra couple of thousand on the price for that comfort is another question.
    Last edited by eddddy; 03-10-2017 at 11:21 AM.
    • G_M
    • By G_M 3rd Oct 17, 11:25 AM
    • 44,487 Posts
    • 52,835 Thanks
    • #3
    • 3rd Oct 17, 11:25 AM
    • #3
    • 3rd Oct 17, 11:25 AM
    Not worth the time, money and effort.

    Just sell as is.
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