Splitting a property horizontally?
We own and rent out a maisonette (c. 1900) which is a single building, with one entrance leading to the ground floor flat and the second leading directly to the first floor flat. It appears that it was split into two flats sometime after it was built (perhaps c. 1960s). We purchased the property in the late 1980s, both flats under a single title deed.
However, for personal (inheritance) reasons, we now need to separate the two flats so they each can be owned independently.
I understand that the title cannot be spit ‘horizontally’ and that the solution will involve creating a lease.
Can anyone advise what the process will be for this, and an approximate ball-park figure for the cost of having this done (presumably through a solicitor).
Given that this is intended to be a permanent solution we will be looking at a very long lease, just in case this has any implications on the costs.
Many thanks
ES
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Statutory v Contractual Periodic Tenancy: what to issue?
Member Since September 2020 - Comments: 158
10:36 AM, 16th December 2020, About 5 years ago
Not sure it will be just the legal aspect, you may also need to consider planning and building control otherwise they won’t sell with the correct building certificates.
Obviously don’t know the building.
Member Since November 2013 - Comments: 185
11:27 AM, 16th December 2020, About 5 years ago
I did exactly this in 2008 – what was a 2 bed terrace house I converted into 2 x1 bed flats each with its own private garden (one at the front of the house and one at the back).
The costs of it will be out of date now but what it entailed was to have the plans drawn up and submitted by an architect, then the building control department needed acoustic insulation to be installed in the floor and subsequently tested and then the registered title was split by a solicitor and long leases created.
I opted for the freehold to be shared by the two flats, just personal preference. Hope that helps
Member Since January 2015 - Comments: 1
5:30 PM, 16th December 2020, About 5 years ago
i purchased a property which the developer built over the adjoining properties garages ,entrance being inbetween the garages (garage width)
it has its own garden but being built over the garages it has a flying freehold so not mortgagable sogoing leasehold is essential wish mine was..
Member Since April 2020 - Comments: 16
4:38 PM, 17th December 2020, About 5 years ago
Reply to the comment left by Anne Nixon at 16/12/2020 – 11:27
Excellent one…
Member Since July 2013 - Comments: 1266 - Articles: 1
8:46 AM, 18th December 2020, About 5 years ago
Reply to the comment left by stuart ward at 16/12/2020 – 17:30
Hi Stuart
Can you not approach the freeholder to create a lease?