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Split Title Deeds
We are in the process of buying a property and the deeds show the title has been split into 2, half leasehold and half freehold. Not sure why or how this can happen. We're told there are repurcussions when we try to sell in the future if we proceed. Can anyone explain why this would have been done and what possible repurcussions there are? We are totally confused and at the point where we have already spent �'s and do not know what to do.
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Practically, do you know which bit of land is which?
I would that that the original plot was freehold and additional land was bought in which happens to be leasehold or vice versa unless there is an element of flying freehold which has been incorporated (a freehold which hangs over eg in jigsaw housing).
Have you asked about the possibility of buying the freehold of the leasehold part to see if that is feasible?
You should be advised as to any obligations, restrictions etc... on all parts of the land, be it freehold or leasehold and you should be aware of which obligations, restrictions etc... relate to which bit.
I'd say the first step would be to find out which bit is which to put it in a more practical setting. Has your solicitor send you copies of the title plans of the freehold, leasehold and the superior title to the leasehold?
I would that that the original plot was freehold and additional land was bought in which happens to be leasehold or vice versa unless there is an element of flying freehold which has been incorporated (a freehold which hangs over eg in jigsaw housing).
Have you asked about the possibility of buying the freehold of the leasehold part to see if that is feasible?
You should be advised as to any obligations, restrictions etc... on all parts of the land, be it freehold or leasehold and you should be aware of which obligations, restrictions etc... relate to which bit.
I'd say the first step would be to find out which bit is which to put it in a more practical setting. Has your solicitor send you copies of the title plans of the freehold, leasehold and the superior title to the leasehold?
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