Leasehold with Share of Freehold

Discussion in 'General Property Investment Discussion' started by Anon Private, Jul 1, 2017.

  1. Anon Private

    Anon Private Member

    If I bought a flat with a share of the leasehold, for my own occupation, would I be under any obligation to take part in committees or any other work that would be involved in running the building. I believe that some of the residents are involved in the company?

    Thanks

    UK resident
     
  2. Nicholas Wallwork

    Nicholas Wallwork Editor-in-Chief Staff Member Premium Member

    The simple answer is check your lease and ask the existing management company or one of the residents even... (or ask the agent who's selling the property to inquire for you). It is not usually a requirement but as an owner you may want a say in how the building is run and managed but if you don't and you're happy for the other owners to make those decisions then you should be able to have minimal or no involvement...
     
  3. realdeals

    realdeals Active Member

    By having no involvement in the freehold could the a flat owner be hit with excessive ground rent fees, etc? Or would that all be detailed in the lease?
     
  4. nmb

    nmb Well-Known Member

    Everything should be detailed in the lease. Get a copy and hand it over to your solicitor and ask them to decipher it for you.
     
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