Buying the Freehold Title of a Leasehold house?

by Readers Question

11:51 AM, 19th January 2017
About 2 years ago

Buying the Freehold Title of a Leasehold house?

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Buying the Freehold Title of a Leasehold house?

I have some questions regarding purchasing the freehold title of a long leasehold house.new estate

I have issued the initial notice & have arranged valuations etc , so I am ok on that side of things, but I have a few questions anyway. If anyone can help I would be grateful.

The house is situated on a large estate with a mix of apartments & houses, the freehold titles are all owned by the same limited company.

The freehold title of the house was sold in 2013 by the previous freeholder (another limited company, which is connected to the current limited company owner, same shareholders ) without my knowledge to the current limited company owner, should I have been notified of the sale at this time and been given the opportunity to buy the freehold title?

-The companies house information about the current limited company freehold owner shows that this company has assets of just £6 , despite the fact the company owns the freehold of the estate which was valued at £200k in 2013. This is confirmed at Land registry.

The freehold company issues ground rent invoices with their company name on it (via a management company) so it is clearly turning over far more than appears on the accounts.

Can someone explain the likely tax & ownership structure of what is going on here?

The current service charge is about £400 per annum for the house, is there any way that the freeholder can issue some kind of estate charge for the property once I have bought the freehold? or does the service charge simply fall away after I have bought the freehold ??

Many thanks
Andy



Comments

Colin McNulty

14:04 PM, 23rd January 2017
About 2 years ago

Andy, I believe the legislation you're referring to is the Landlord and Tenant Act 1987 as amended by the Housing Act 1996.

Specifically you want to look up the Right of First Refusal.

I know it applies to flats in a block, but I don't know if it applies to houses on an estate. You'll have to read up / take advice on that.


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