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The meaning of share freehold.

What is the meaning of share freehold? What is the period of shared freehold? For how long do I own this property? After dying who owns the property? Is there rent for freehold?

Asked on Dec 7 2010, General in London | Report content

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  • A share of the freehold basically means that each of the owners of the respective properties in the block will each have a lease of your individual flat and a share in a separate company that in turn owns the freehold of the whole. The period of the freehold is the same as any, i.e. in perpetuity or as long as the own the property. Basically the main advantage is that you can decide block insurance, ground rent, maintenance fees etc and how the block is managed. It also means extending leases when the become problematic is often far easier.

    Answered on Dec 7 2010, Report content
  • When buying a share of freehold do satisfy yourself that the building is being properly maintained and accounts are kept etc. Neighbours in the same building often disagree on priorities and that can result in nothing being done! Make sure, regardless of the share of freehold status, that you have a good long lease. A mortgage will usually be secured against the lease and a short lease may adversely affect value and make a flat difficult to sell.

    Web reference:

    Answered on Jul 30 2014, Report content

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