Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 4 weeks ago 48
When buying a shared ownership property, the lease I thought I was buying into was 125 years. This was the paperwork received from the solicitor. The property was purchased in 2008. 11 years down the line and having recently decided to sell the property it now appears the housing association are saying there is only 88 years on the lease and it was 99 not 125 which was issued by the solicitor to me.
Now this is causing issues with the potential buyer and finding information as to whether this constitutes a defective lease or not? Also I was purchasing in good faith a property with 125 years, which has resulted in now being reduced to 88 which was as no fault of my own.
Who would be accountable for the lease extension costs and what are my options?
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