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What is a leasehold property?

Asked on Dec 19 2017, General in Salford | Report content

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  • Hello Paul, Here is the definition according to the GOV.UK website: "You only own a leasehold property for a fixed period of time. You’ll have a legal agreement with the landlord (sometimes known as the ‘freeholder’) called a ‘lease’. This tells you how many years you’ll own the property. Ownership of the property returns to the landlord when the lease comes to an end. Most flats are leasehold. Houses can be leasehold too and usually are if they’re bought through a shared ownership scheme." Please see the link below:

    Web reference: https://www.gov.uk/leasehold-property

    Answered on Dec 21 2017, Report content
  • You only own a leasehold property for a fixed period of time. You'll have a legal agreement with the landlord (sometimes known as the 'freeholder') called a 'lease'. This tells you how many years you'll own the property. Ownership of the property returns to the landlord when the lease comes to an end.

    Web reference: https://www.gov.uk/leasehold-property

    Answered on Dec 21 2017, Report content

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