10:42 AM, 29th January 2015, About 7 years ago 17
MY deceased brother’s estate has a Grade 2 listed property converted into 4 separate flats all mortgaged. There are no shared parts except the garden and all flats have separate entries.
We wish to start selling off the flats, but the only information we have is that the flat freehold was in my brothers building company name. The flats have leases of 99 years from the 1/3/2003.
Would it be best when all flats are sold to create a new freehold and then offer to sell 25% share to each flat, or give a ground rent of say £100 per year and a charge of £350 per year of repairs and sell freehold at auction.
As the property is Grade 2 the repairs would be expensive .