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New leases

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  • New leases

    I recently bought a 50% share of the freehold of a house divided into two flats. Both flats are in the process of granting the properties new leases.

    Is there a legal metric that decides how much each flat should pay towards maintenance of the property? Is it based on size of each flat or value of flat? Or how should it be worked out?

  • #2
    It's whatever you decide - probably best to measure floor areas and put it in the new leases in percentage proportion terms - property values will fluctuate a lot and will cause endless arguments.
    RICHARD WEBSTERwww.rwco.co.uk
    As a conveyancing solicitor I want to be helpful (England/Wales only) but can't accept liability for this.