Absent freehold beneficiaries?

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    Absent freehold beneficiaries?

    Hi guys, new poster here so forgive me if I get my terms mixed up!


    I have just made an offer on a ground floor flat in a block of 3. A,B and C. Sold as Share of Freehold, no company. We'll call this flat A.


    The owner of flat B died in 2015. The "residue" of her estate including flat B was left to 17 different charities in equal shares. According to the appointed solicitors this was wrapped up in 2017.


    As of today the flat is empty, leaking and obviously not paying anything towards the (minimal) upkeep of the block.


    Am I correct in thinking it's likely the Freehold is now owned by the owners of flats A + C? with the charities maintaining some sort of beneficial interest?

    In practise is this going to be a problem?



    The title still lists the deceased so it appears that none of the charities have taken the lead in regards to taking ownership, selling the property and distributing funds. As I understand a trust would need to be set up. Is this correct? Is there any way to find out if this has been done already?

    Thanks in advance

    Matt


    #2
    Sounds like the executors have made a mess of this.

    I would have thought the share of the freehold and the share of the lease are still held in trust by the executors.

    Comment


      #3
      Yes agree with leaseholder, still held by the executors pending an agreement by all beneficiaries to sell and monies distributed equally. Getting 17 organisations to agree is going to take a while . . .

      Comment


        #4

        Is there any way to find out if this is the case (held in trust by the nephews)?

        Assuming this is the case I can't imagine they are particularly incentivised to get this sorted, they had their part of the inheritance 2 years ago.

        Comment


          #5
          If the Land Registry has not updated, it will be held in trust by the executors. The combination of the will and the Land Registry entry should be all that is necessary.

          Note, that they should be paying the ground rent and service charges. Once they have probate, they no longer have any excuse for not doing so.

          Comment

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