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Change of Land On Leasehold Property

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  • Change of Land On Leasehold Property

    Im considering buying a first floor flat where the owner of flat below "owns" the front garden. I says owns as of course the land is leasehold, so is infact leased from the council.

    If the owner of the flat below wanted to transfer some of "his" land to me (once i owned tha flat), how difficult a process would this be and how expensive (approximately)?

    What fees would be required and to whom?

    The reason being is that if the garden was to be converted into a driveway (with cost of driveway being split between me and the other flat owner), i would like security in knowing that i have legal access to the driveway (and that should the flat be sold at a later date the drive would go with it).

    Flat value approx £75k.

    Any starters appreciated!

    Thanks
    Last edited by relentless; 02-03-2011, 05:24 PM.

  • #2
    Re: Change of Land On Leasehold Property

    I cannot understand why one of the expert members has not replied to this post. I would like to know the answer myself.

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    • #3
      Re: Change of Land On Leasehold Property

      1. Check lease to see if part of the land in the lease can be transferred as there is usually a clause preventing transfer of part. If there is such a clause then the freeholder's consent would be required and you would have to pay his fees for giving such a consent (assuming he is prepared to give it).

      2. If owner of the other flat has a mortgage his mortgage lender will have to agree to release part of the land from its security. If it is a high percentage mortgage then losing part of the garden would devalue the other flat and the lender might be happy to agree this.

      3. Legal costs of that will probably be at least £1,000 if not more.
      RICHARD WEBSTERwww.rwco.co.uk
      As a conveyancing solicitor I want to be helpful (England/Wales only) but can't accept liability for this.

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