Price to purchase neighbour's land next to my flat

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Price to purchase neighbour's land next to my flat

    Hi
    I was wondering if anyone could give an indication of what would be deemed as an acceptable price for a leaseholder to purchase the freehold for?

    My neighbour has a plot of land adjacent to his flat.
    I would like to buy the plot of land from him, on which to build my own house.
    He is currently the leaseholder of the land and has applied to the freeholder (a company who happens to be a housing association) to buy the freehold.
    They have agreed to sell the freehold for the land to him, for the fee of 50% of what he sells it on at.
    That percentage seems exhorbetant. Does anyone have any expereience in this,or offer any guidance as to what is the norm or an acceptable percentage?

    Many Thanks

    #2
    Neighbour has no right to buy the land, of course, so price is whatever V wants for it!
    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
    2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
    3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
    4. *- Contact info: click on my name (blue-highlight link).

    Comment


      #3
      Hi

      Perhaps I didn't explain it properly. (sorry,I'm new to this)
      The plot of land i am refering to, is part of my neighbours back garden.
      He owns the lease to his the flat, which has a huge garden.
      He is trying to purchasing the freehold, for the piece of land he already owns the lease for.

      Does that make more sense?

      Comment


        #4
        Originally posted by housebuilddreamer View Post
        Hi

        Perhaps I didn't explain it properly. (sorry,I'm new to this)
        The plot of land i am refering to, is part of my neighbours back garden.
        He owns the lease to his the flat, which has a huge garden.
        He is trying to purchasing the freehold, for the piece of land he already owns the lease for.

        Does that make more sense?
        Yes, but a flat's lessee does not have rights to buy his own flat's freehold reversion (nor even the garden area of it).
        JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
        1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
        2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
        3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
        4. *- Contact info: click on my name (blue-highlight link).

        Comment

        Latest Activity

        Collapse

        • Less than 50% of freehold
          by raskitt
          I have just started conveyancing for a share of freehold flat. The flat is the ground floor of a converted house.

          I have just found out that the other 2 share of freehold flats are owned by the same person (who originally owned the whole building).

          How much of a problem is...
          29-06-2022, 13:28 PM
        • Reply to Less than 50% of freehold
          by AndrewDod
          No. Your obligations and those of the FH are determined by the lease. When the FH does not obey the lease (or cheats) you have recourse via the courts. If you are part of the freeholder (but with no actual ability to uphold those obligations) you would be taking legal action against yourself. If as...
          30-06-2022, 15:11 PM
        • Reply to Less than 50% of freehold
          by raskitt
          Thank you, my thoughts are going this way. Could you explain briefly why it would be worse? I assume because I'm on the hook for shared costs whereas if I had the same flat but without the freehold I would not...
          30-06-2022, 14:40 PM
        • Reply to Less than 50% of freehold
          by raskitt
          Yes that is correct...
          30-06-2022, 14:38 PM
        • Reply to Less than 50% of freehold
          by AndrewDod
          If you own a minority share of the freehold, then true you have no say at all. The freeholder still has to obey the lease and the law though.

          I would not buy it. Owning a minority share in a "share of freehold" situation is far worse than not owning any share at all (and having...
          30-06-2022, 11:54 AM
        • Reply to Less than 50% of freehold
          by Lawcruncher
          Do you mean that you are buying a leasehold flat with a share of the freehold?...
          29-06-2022, 21:47 PM
        • Flying freehold
          by SouthernDave
          I’m hoping Lawcruncher or other legal minds can comment on this… seen a property to buy, its terraced so there’s a house on both sides, but there is an open walkway through the house to allow access to the rear garden. This also gives access to the immediate neighbours gardens. the ‘alley way...
          15-06-2022, 19:29 PM
        • Reply to Flying freehold
          by pilman
          It is possible that the house was originally a council owned property along with the other houses in the terrace.

          The register of title may show the details of the original transfer deed with a Copy Filed at Land Registry, as may the register of title for the adjacent house that has access...
          28-06-2022, 09:08 AM
        • Ex Council Garage Land
          by Ian Palmer
          Ex Council Garage Land

          Two years ago during lockdown I walked my local area and noticed a piece of land that looked like it had been abandoned. The land was open for anyone to walk into and as I got to the end of the driveway there were two run down sheds/Garages from the 60’s, Asbestos...
          29-01-2022, 11:14 AM
        • Reply to Ex Council Garage Land
          by Lawcruncher
          In the case of housing I think it is safe to assume they did own it.



          Whenever local government gets reorganised a lot of land moves between councils by Act of Parliament and without the need for a written document. A change of ownership of unregistered land by statute does...
          27-06-2022, 09:40 AM
        Working...
        X