Freeholds & Leaseholds!

[piggynose]

I just found out that I don't possess the freehold on my property, it belongs to another home owner on the same road! Is this unusual?

[barry1010]

It is unusual not to know you have bought a leasehold property.  When did you buy it?

[piggynose]

In 87, Barry.

[barry1010]

How did you find out? 

[davebro3]

Seems a bit odd. As Barry says freehold should be declared at purchase. How long is the lease? - many historical ones are 999 years. Is there a ground rent payable?

[barry1010]

It should certainly be stated on the Title Deeds/Title Register.

[piggynose]

I am gonna find out, I'll get back to you. 

[barry1010]

How did you find out that your neighbour owns the freehold?

[barry1010]

Just pop your postcode in here - it will quickly tell you if it freehold or leasehold, no charge

https://search-property-information.service.gov.uk/search/summary/x1JY57DwnNMm--Fjb2k2Mg==/YDHy_4Tg2NZy62o-IQnB2w==

[piggynose]

09.21. Barry, I tried that link, and it said there was 2 records of my address, one was for a freehold and the other for a leasehold. So still none of the wiser.🤔 

[barry1010]

You still haven't said how you found out but it seems that it is leasehold. Is the other address the same as the neighbour that owns the leasehold?

[barry1010]

Owns the freehold, I meant

[piggynose]

Sorry Barry, i forgot!! How did I find out, you asked? 

Whilst trying to fill in that service licencing form they asked me if it was freehold of leasehold ? 

As I wasn't sure, I asked 1 of the other flat owners if he knew, and he said i shudve known this when I bought the place in the 80s, and said its leasehold.

He also gave me a long drawn explanation why?

This man owns several properties, so I assume he's been there and got the t-shirt.

[barry1010]

You live in a flat!  In that case I would expect it to have been leasehold when you bought it.  You could think about buying the leasehold - at least half of the other flat owners must agree to it.

[ToraToraTora]

did you not realise when you bought it? Surely that must have been made clear.

[cassa333]

Few flats that I know of are freehold. They are majority leasehold.

Just be careful that if/when the leases are sold on that one of these management companies don't buy it. They are notorious for charging the Earth.