Welcome to the reallymoving forum
Got questions and need some advice? Our forums have answers on everything from choosing the right property, to renting and selling.
  • If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

Announcement

Collapse
No announcement yet.

Difference between 999 leasehold and share of freehold

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Difference between 999 leasehold and share of freehold

    Hi,
    the flat I have put an offer on has been advertised as share of freehold but now I have received the HIP and the lease says 999 years lease.
    The lease is owned by the company that has been set up to buy it.
    Now, my question is:
    - there is any difference in share of freehold and this type of very long lease (where the lease is own by the company set up for this purpose)?
    Cheers

  • #2
    Re: Difference between 999 leasehold and share of freehold

    Legally, yes there is a difference, but it is likely that a leasehold title is more appropriate, to ensure that covenants (eg: for repair) can be enforced

    In practice, if you and the other long leaseholders control the freeholder company, there should be no adverse effect on value as long as the company is run properly
    This is based on my experience as a conveyancing solicitor in England, but I do not accept liability for information I give in this forum

    Comment


    • #3
      Re: Difference between 999 leasehold and share of freehold

      Exactly - just a legal distinction really.

      Comment

      Working...
      X