without advising the lessee? Please note I only want to sell part of the freehold property, I would still be the landlord of the lessee. However, the way the property is constructed would mean that my freehold title would now be "flying". Please help!
2006-11-07 22:08:18 · 3 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Yes, you can sell part of your title if you wish.
Are you saying that the part you'll be retaining will be flying freehold, or the part you'll be selling?
If it's the part you're selling, you may be better off granting a long-term lease rather than selling the freehold. It's very hard to get a mortgage for a freehold flat or maisonette and the burden of positive repair covenants (for example) wouldn't bind subsequent purchasers and the buyer may have a problem if the shared roof, say, needed repair.
If it's the part you're retaining that will be flying, see if you can sell the freehold reversion and have a lease granted to yourself.
I can't really picture the problem, you'd be best to consult a good conveyancing solicitor.
2006-11-08 06:38:56 · answer #1 · answered by in vino veritas 4 · 0⤊ 0⤋
ah sorry, I'm in Scotland; to me the English system of freeholding and leaseholding is weirder than marmite ice cream.
2006-11-08 06:49:16 · answer #2 · answered by wild_eep 6 · 0⤊ 0⤋
no
2006-11-14 12:40:04 · answer #3 · answered by charlie 3 · 0⤊ 0⤋