Splitting a title deed

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

    Splitting a title deed

    Hello,

    We own own a house that has been converted into two flats (planning consent, building regulations, separate services, etc) and we now want to separate the title deeds.

    Can anyone advise how much this would cost and give an indication of timescales?

    We are keen to split the title deed as efficiently as possible because we are temporarily paying the mortgage off completely and will want to sort another mortgage for our next project.

    Any help would be much appriciated.

    Thanks,
    David

    #2
    Who is "we" ?

    You own the house under one freehold title ( registered under joint names ?) .

    You want to move to situation of owning one freehold title for the building + 2 leasehold titles ( one for each flat )

    The rules are the name ( A+B ) as holder for freehold title cannot grant a lease to the same name ( A+ B) for the leasehold titles.

    You must ask 2 or 3 local solicitors specialising in Landlord & Tenant work to give you a competitive quotation for doing the work including preparing the lease and registering 2 leasehold titles + site plans for the flats at Land Registry .

    Comment


      #3
      Gordon is correct, I would add that if the property is in mortgage you are advised to consult with your lender as their permission is a prerequisite before the legal boys start the ball rolling.

      Comment

      Latest Activity

      Collapse

      • RTM - Admin Fees Charged by Freeholder
        by chris1544
        We have RTM in place for our two flat building. Recently the other leaseholder put in a request to the RTM company to install an air vent. I duly wrote to the freeholder, notifying them of our intention to grant approval for the works, giving them the statutory 30 days notice.

        They have...
        12-08-2020, 11:04 AM
      • Reply to RTM - Admin Fees Charged by Freeholder
        by Lorimer
        There isn't much case law on this but even when an RTM is in place and it is the RTM that is responsible for dealing with consents, I believe the freeholder CAN charge a reasonable admin fee simply for the freeholder's time in reviewing the consent application. This is because the RTM company cannot...
        12-08-2020, 20:33 PM
      • Reply to Late ground rent payment charge & legal fees no warnings
        by Stew
        sounds like a major win
        12-08-2020, 20:22 PM
      • Late ground rent payment charge & legal fees no warnings
        by KingstonBee
        Wonder if you can help... This week I have received a Court Claim form pack with what seems to include a ‘particulars of claim’ and ‘lease’ for ‘outstanding arrears of Ground rent and insurance’.

        Now this is a huge shock as I’ve not received any letters at all, no emails or phone...
        10-06-2020, 20:13 PM
      • Reply to Can I let this freehold indefinately ?
        by ChrisDennison
        Well but who’s to judge that intention? If I as the freeholder only want women, kids and one armed pirates in my block of flats and therefore put a restriction of use to that extent in the lease isn’t that my pretty unambiguous intention?



        Well put. I have a property with...
        12-08-2020, 19:14 PM
      • Can I let this freehold indefinately ?
        by Boab
        Is there any reason why I cannot let a freehold flat on a two flat maisonette where there are two freeholders with a deed of covenant between the two to cover such issues as maintaining the property? There appears to be nothing in the covenant restricting renting my property out and it’s been done...
        10-08-2020, 06:12 AM
      • Reply to Late ground rent payment charge & legal fees no warnings
        by KingstonBee
        FYI - I pressed and stated facts and quoted the law etc and they eventually backed down... Mega Chuffed. Didn’t even have to pay any of the legal fees or additional costs. It helps that in the lease as mentioned they had to email or send mail via recorded delivery... Their legal team agreed and dropped...
        12-08-2020, 19:00 PM
      • EGM via Zoom breach of GDPR
        by Stacker
        Our directors refuse to call meeting and now are using some government quote Corporate Insolvency and Govt Act 2020 Section 37 and Schedule 14 of the Act..basically the articles don't say we can hold electronic meetings so can they be held via zoom?
        12-08-2020, 17:53 PM
      • Reply to Variation of lease
        by Gordon999
        Many flats with ground rent increasing every 10 years are not able to get a mortgage loan . Taylor Wimpey have set a side £130 Mil for correcting the ground rent demands in their leases . If your flat was built by this company, you should contact the company for correction of the lease.
        12-08-2020, 17:41 PM
      • Variation of lease
        by scampicat
        I own a flat with a lease of 125 years starting from 2012. The ground rent is at present £150 pa, but increases as follows every ten years: £225... .£337.50.... 506.25.... 759.38.... 1139.06.... 1708.59.... 2562.89 ....3844.34. There are no more increases after eighty years. I am considering a variation...
        25-02-2020, 08:57 AM
      Working...
      X