Head leaseholder wants to muscle in!
4 years ago | 17 comments
How do I identifying a freehold owner?
10:30 AM, 15th August 2022, 4 years ago
8
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Hello everyone, How do I identify the freehold owner of a 999-year leasehold, 2 bed terraced property?
I would like to buy the freehold.
Also, is it possible to get a ground rent of £1.60 per year to be removed from a leasehold property if it is not being collected?
Thank you.
Sailus
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Member Since July 2013 - Comments: 2002 - Articles: 21
3:09 PM, 15th August 2022, About 4 years ago
Hi Sailus
Your solicitor can do a MapSearch to find out or you can enquire directly: https://www.gov.uk/search-property-information-land-registry
If you can identify the freeholder he may agree to commute the ground rent.
Member Since January 2022 - Comments: 97
5:45 PM, 15th August 2022, About 4 years ago
Land register website, search for the property, there should be both a fre hold and lease hold, simply buy the free hold information, it was £3 not sure if it has increased
Member Since September 2021 - Comments: 213
6:12 PM, 15th August 2022, About 4 years ago
I am trying to understand your thinking.
A 999 year Lease is virtually a freehold.
There may be future legislation to abolish such a tenure and convert it to freehold.
The ground rent is so small that it is not worth collecting from the freeholder’s point of view.
Why do you wish to waste money in ascertaining the freeholder and then commuting the ground rent, which would be automatic if you bought the freehold reversion.
I am genuinely curious.
Member Since April 2020 - Comments: 12 - Articles: 1
6:17 PM, 15th August 2022, About 4 years ago
You can make an application to the court to Acquire the freehold under Section 33. If the court is satisfied that the freeholder cannot be found and you have taken reasonable steps to find him, they will usually grant an order enabling the leaseholder to acquire the freehold interest.
Purchase Absent freeholder indemnity insurance.
Member Since January 2022 - Comments: 97
11:17 PM, 15th August 2022, About 4 years ago
Reply to the comment left by Suresh Parikh at 15/08/2022 – 18:12
Because a leasehold normally limits what changes you can do with the property, you are meant to request permission before any material changes and they normally charge just for you to ask, let alone agree.
Also you then own the land, should the property lease run out things can get expensive and nasty.
Freehold is the best option imo, saying that I own 3 properties that I cannot buy the freehold as it is in a block of four lol!
Member Since April 2021 - Comments: 1
5:24 AM, 16th August 2022, About 4 years ago
Reply to the comment left by Suresh Parikh at 15/08/2022 – 18:12
Thanks for your response
I need permission to make changes to the structure of the building to increase uplift and force value.I intend to remortgage the property to pull my money out and reinvest .If i resale in future the uplift and freehold will increase the property value
Member Since September 2021 - Comments: 213
10:15 AM, 16th August 2022, About 4 years ago
Thank you.
I understand now.
Nobody would want to enfranchise a 999 year lease.
You will have to instruct solicitors in any case, so the best advice is Ian’s.
Member Since September 2021 - Comments: 213
5:16 PM, 18th August 2022, About 4 years ago
Reply to the comment left by Ian Narbeth at 15/08/2022 – 15:09
Ian
Is it not possible to claim possessory title to the freehold reversion (if the freeholder has not asserted his title by demanding the ground rent)? Do you have a quick link or two?
Thanks.