When a Freehold is bought can an existing lease be changed or altered?Make Text Bigger
I have owned a flat for about 7 years or so, I am a leaseholder, the lease has about 120 years or so to run.
It was formally owned by the local council and the council have sold the block to an independent Landlord. I have the first floor flat.
The new Landlord has also bought the ground floor flat as well as the Freehold.
Question : Can the new Freeholder disregard the existing Lease arrangement? Would they be able to force me to sign a new lease or something similar?
What should I watch out for? What are the possible repercussions of such a purchase. They did offer to buy my property at 40% below market value which I refused, I feel like I am walking around with one of those laser red dots on my body that you see in the Gangster movies. I am waiting for “Crack” of the rifle!
Any forward thinking advice or evasive moves much appreciated.
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