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Life Lease

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bobbie22 | 20:24 Mon 15th Mar 2021 | Home & Garden
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If I bought a flat with a lease for life, what happens to the flat when I die.?

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I’m not sure that sounds too good Buenchico. I can see now that’s why the price is cheaper. But I will not own the property unless I pay out more to protect myself. Many thanks for that. ( did I get it right. ? )
Yup. Like all leases, you don't fully own the property. Even if, say, you buy a flat in a tower block, with a conventional lease, you're only really buying the right to occupy the flat , with the freeholder actually owning the bricks and mortar. When your lease expires (whether that's after 9 years, 99 years, 999 years or whatever, the property will eventually revert to the freeholder).

The only difference with a lifetime lease is that the length of the lease term isn't fixed; the lease only lasts as long as you do!
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I can’t think of leaving it to my son after my days can I .? That’s a shame. I will probably be better off renting I think
honestly bobbie, its gonna depend how long you live for.
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Have changed my mind Wolfgang. Thinking of renting now. It’s too risky to buy under the above conditions. ( am sort of thinking to move nearer to my son). This is further along the line, as it’s a huge thing to do at my age.
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Sorry, Woofgang
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