Splitting a property horizontally?Make Text Bigger
We own and rent out a maisonette (c. 1900) which is a single building, with one entrance leading to the ground floor flat and the second leading directly to the first floor flat. It appears that it was split into two flats sometime after it was built (perhaps c. 1960s). We purchased the property in the late 1980s, both flats under a single title deed.
However, for personal (inheritance) reasons, we now need to separate the two flats so they each can be owned independently.
I understand that the title cannot be spit ‘horizontally’ and that the solution will involve creating a lease.
Can anyone advise what the process will be for this, and an approximate ball-park figure for the cost of having this done (presumably through a solicitor).
Given that this is intended to be a permanent solution we will be looking at a very long lease, just in case this has any implications on the costs.
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.