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Freeholds & Leaseholds!

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piggynose | 08:54 Wed 08th May 2024 | Law
15 Answers

I just found out that I don't possess the freehold on my property, it belongs to another home owner on the same road! Is this unusual?



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It is unusual not to know you have bought a leasehold property.  When did you buy it?

Question Author

In 87, Barry.

How did you find out? 

Seems a bit odd. As Barry says freehold should be declared at purchase. How long is the lease? - many historical ones are 999 years. Is there a ground rent payable?

It should certainly be stated on the Title Deeds/Title Register.

Question Author

I am gonna find out, I'll get back to you. 

How did you find out that your neighbour owns the freehold?

Just pop your postcode in here - it will quickly tell you if it freehold or leasehold, no charge

Question Author

09.21. Barry, I tried that link, and it said there was 2 records of my address, one was for a freehold and the other for a leasehold. So still none of the wiser.🤔 

You still haven't said how you found out but it seems that it is leasehold. Is the other address the same as the neighbour that owns the leasehold?

Owns the freehold, I meant

Question Author

Sorry Barry, i forgot!! How did I find out, you asked? 

Whilst trying to fill in that service licencing form they asked me if it was freehold of leasehold ? 

As I wasn't sure, I asked 1 of the other flat owners if he knew, and he said i shudve known this when I bought the place in the 80s, and said its leasehold.

He also gave me a long drawn explanation why?

This man owns several properties, so I assume he's been there and got the t-shirt.

You live in a flat!  In that case I would expect it to have been leasehold when you bought it.  You could think about buying the leasehold - at least half of the other flat owners must agree to it.

did you not realise when you bought it? Surely that must have been made clear.

Few flats that I know of are freehold. They are majority leasehold.

Just be careful that if/when the leases are sold on that one of these management companies don't buy it. They are notorious for charging the Earth.

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