Repossessed flat with absentee freeholder

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    Repossessed flat with absentee freeholder

    Hi All,

    I hope you can help. I'm about to make an offer on a repossessed flat with a 67 year lease. I've been advised by the estate agent that there is an absentee landlord situation attached with the property.

    A quick search in the land registry shown that there are four leasehold flats and four registered owners of the freehold land. Flat A, the one I'm planning to buy, has two registered owners, one of them is also one of four registered owner of the freehold land.

    I have spoken to two solicitors, both advised that it's not uncommon to buy a repossessed property with absentee landlord but there are risks attached but won't be able to go into it without all the information. Once purchased and the lease is transferred to my name , can/how do I get the freehold also transferred to me so I can extend the lease?

    I wonder if anyone have come across a similar situation and could share their experience or expertise?


    Any feedback would be appreciated.

    #2
    No, you cannot get freehold transferred to you.
    You can however apply to the tribunal to get the lease extended via tribunal.

    However you have 4 owners of the freehold and you are not saying how the freehold is owned. Is it a company or is it owned as tenants in common.

    Comment


      #3
      and unless it is ridiculously cheap, do you really want to get into all of it, when you would need to wait for 2 years until you can extend the lease?

      Comment

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