I have a first floor flat in london, it has a 120 year lease. The building it is in has only 2 flats. Mine and my neighbours below. The neighbour below owns the lease. I would like to buy the freehold. Can I make my neighbour sell me the freehold to my flat? Also is the fee he can charge capped? I think the law changed recently, but am not sure.
Thanks in advance.
2007-02-26 05:26:28 · 2 answers · asked by Peter B 1 in Business & Finance ➔ Renting & Real Estate
I just want the freehold for my flat. I dont want the land! I dont think you understand the principles. If somebody else owns a freehold i.e. my neighbour, you can get into disputes over certain aspects.
2007-02-26 06:00:21 · update #1
Hi Peter - go to the Leasehold Advisory Service - google and you'll find them, They are in London, and were set up by the government to help people with the new leasehold laws. They have a website which may answer you question, or phone and make an appt. You get half an hour with a specialist in the subject - and it's free. We got an excellent young woman and she ended up giving us an hour - it was really helpful. We had to wait 4 weeks for the appt., but it was worth it. Good Luck
2007-02-26 06:56:16 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I assume you mean your neighbour owns the Freehold.
I don't believe it's possible to break a Freehold into 2 parts (half for each Flat) and 'Freehold' for a top flat doesn't make a lot of sense anyway (how can you own the ground the building is standing on when your Flat is in the air ??? :-) )
As for 'forcing him to sell' - on what grounds = why should the owner of the top flat have priority in ownership of the freehold ?
2007-02-26 13:51:30 · answer #2 · answered by Steve B 7 · 0⤊ 0⤋