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Leasehold
Most flats or apartments (but also some houses) are leasehold. This means there is a landlord to whom the leaseholder is responsible.
Once your offer has been accepted we will:
- check the legal title and the freehold title
- submit appropriate searches
- raise questions regarding the lease, and the management of the leasehold property
- discuss the finance of the purchase with you
- advise you if you are asked to enter into a Deed of Covenant
before you are legally obliged to purchase the property.
It is vital that before purchasing the property you understand the terms of the lease and all the covenants and restrictions in the lease. If you are buying a newly granted lease we will check that there are no unreasonable conditions being imposed.
At Hart Brown we are rigorous with our legal checks. A lease is a complicated document and must be correct so there are no problems when you come to sell late on. In our experience, a large number of legal practitioners do make mistakes with leasehold title. This then becomes time consuming and expensive to put right later. We will provide you with full, clear and easy to follow reports to enable you to understand the paperwork behind the property that you are hoping to buy
To speak to someone who can help with buying a leasehold property call, email or request a call back from one of our specialist lawyers.