Reverse Freehold
Discussion
insurance_jon said:
That's not quite the same as a reverse fh?Billsnemesis said:
"Reverse freehold" is not a technical term so some clarity is needed on what exactly you are looking at.
Freehold reversion perhaps?
Thanks. This is the EA's view: Freehold reversion perhaps?
'A brief and simple explanation of reverse freehold is, If a housed is split into two flats the top flat would own the freehold to the bottom flat and vice versa, a lease is then in place for the individual flats to lease from each other, this legally protects the owners for any works that are required on the whole building. '
I've not heard of this before and as it's a ground floor flat I'm looking at, it makes it sound as if I'd be responsible for the roof!
sounds overly complex to me - but am not an expert...
would flats where you share building costs not usually be part of a building management company (certainly reverse freeholds above two flats would get complex!)
https://www.gov.uk/set-up-property-management-comp...
it would mean that technically you are not the freeholder of your flat, does that give you each rights over what happens within the flat as well as the building structure - arguably it might? Can you force the sale of the freehold under rights to buy that? how would that complicate things?
I would want more explanation from the EA of this - why it was set up this way, and what the pros / cons might be
would flats where you share building costs not usually be part of a building management company (certainly reverse freeholds above two flats would get complex!)
https://www.gov.uk/set-up-property-management-comp...
it would mean that technically you are not the freeholder of your flat, does that give you each rights over what happens within the flat as well as the building structure - arguably it might? Can you force the sale of the freehold under rights to buy that? how would that complicate things?
I would want more explanation from the EA of this - why it was set up this way, and what the pros / cons might be
akirk said:
sounds overly complex to me - but am not an expert...
would flats where you share building costs not usually be part of a building management company (certainly reverse freeholds above two flats would get complex!)
https://www.gov.uk/set-up-property-management-comp...
it would mean that technically you are not the freeholder of your flat, does that give you each rights over what happens within the flat as well as the building structure - arguably it might? Can you force the sale of the freehold under rights to buy that? how would that complicate things?
I would want more explanation from the EA of this - why it was set up this way, and what the pros / cons might be
It sounds a little strange to me too. I don't see any pros really, other than I would own 'a' freehold. Very odd. would flats where you share building costs not usually be part of a building management company (certainly reverse freeholds above two flats would get complex!)
https://www.gov.uk/set-up-property-management-comp...
it would mean that technically you are not the freeholder of your flat, does that give you each rights over what happens within the flat as well as the building structure - arguably it might? Can you force the sale of the freehold under rights to buy that? how would that complicate things?
I would want more explanation from the EA of this - why it was set up this way, and what the pros / cons might be
IIRC
Usually used in a block of two flats. Each one will own the freehold ot the other, and in turn own the long leasehold of the other.
advantages is a direct Landlord and Tenant relationship between the two, no service charge/management bills or issues.
Years since I've seen one so I'm not completely certain on my facts.
Usually used in a block of two flats. Each one will own the freehold ot the other, and in turn own the long leasehold of the other.
advantages is a direct Landlord and Tenant relationship between the two, no service charge/management bills or issues.
Years since I've seen one so I'm not completely certain on my facts.
surveyor said:
IIRC
Usually used in a block of two flats. Each one will own the freehold ot the other, and in turn own the long leasehold of the other.
advantages is a direct Landlord and Tenant relationship between the two, no service charge/management bills or issues.
Years since I've seen one so I'm not completely certain on my facts.
Thanks. Usually used in a block of two flats. Each one will own the freehold ot the other, and in turn own the long leasehold of the other.
advantages is a direct Landlord and Tenant relationship between the two, no service charge/management bills or issues.
Years since I've seen one so I'm not completely certain on my facts.
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