Menu
Forums
New posts
Search forums
What's new
New posts
Latest activity
Log in
Register
What's new
Search
Search
Search titles and first posts only
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Help Support The Rugby Forum :
Forums
Other Stuff
The Clubhouse Bar
A Political Thread pt. 2
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Bada-Bing!" data-source="post: 1035865" data-attributes="member: 70552"><p>It depends on the length of the lease. They can be just as good as a freehold if long enough ie. can be up to 999 years. That's the length on my grandad's old maisonette, which I inherited with my sister. Chance came along last year to also buy the freehold on it and took it up with 5 others on the same block, but own it within a company. Known as enfranchisement. Now own both the leasehold and 1/6th share of the freehold, which relates to the property. The only downer is the freehold is held with 5 others and we are liable to the terms of the lease. But maintenance and insurance is a shared cost. </p><p></p><p>The freehold interest is basically the outright ownership of land on which the block or apartments in the case of these leaseholders, is built on. The leasehold interest is the ownership of the flat itself and how long you reside in it. Yes, it is bummer the liability now for cladding on these leaseholders, but as I understand in land law it is correct. These affected leaseholders just need financial help because this cladding issue is not their fault and a lot are sitting in unsaleable properties right now.</p><p></p><p>In your Case you own the freehold to your house ie the land and the bricks and mortar that your house is made up of,which is the best thing. At least you know you are fully responsible for your house.</p></blockquote><p></p>
[QUOTE="Bada-Bing!, post: 1035865, member: 70552"] It depends on the length of the lease. They can be just as good as a freehold if long enough ie. can be up to 999 years. That‘s the length on my grandad’s old maisonette, which I inherited with my sister. Chance came along last year to also buy the freehold on it and took it up with 5 others on the same block, but own it within a company. Known as enfranchisement. Now own both the leasehold and 1/6th share of the freehold, which relates to the property. The only downer is the freehold is held with 5 others and we are liable to the terms of the lease. But maintenance and insurance is a shared cost. The freehold interest is basically the outright ownership of land on which the block or apartments in the case of these leaseholders, is built on. The leasehold interest is the ownership of the flat itself and how long you reside in it. Yes, it is bummer the liability now for cladding on these leaseholders, but as I understand in land law it is correct. These affected leaseholders just need financial help because this cladding issue is not their fault and a lot are sitting in unsaleable properties right now. In your Case you own the freehold to your house ie the land and the bricks and mortar that your house is made up of,which is the best thing. At least you know you are fully responsible for your house. [/QUOTE]
Verification
Post reply
Forums
Other Stuff
The Clubhouse Bar
A Political Thread pt. 2
Top