Gift freehold to children

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    Gift freehold to children

    I own the freehold of an old property converted into 4 flats. The 99 year lease has 67 years remaining. I would like to gift the lease to my 2 children. Am I allowed to do this without offering the freehold to the tenants
    Thankyou

    #2
    NO TO FREEHOLD. Must offer it to leaseholders first.

    You can't gift a lease to your children, as they have not bought the lease.

    When you are no longer here, and your will states all that all you own goes to someone, then they become the executors of all you used to own.
    They then have to pay all service charges, council tax, gas, electric, etc until the lease is sold, or they go live in the place


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      #3
      Do you also own one of more of the leases?

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        #4
        There are exceptions to the right of first refusal for certain inter family transactions but best check with a specialist lawyer.

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          #5
          Originally posted by Linden View Post
          I own the freehold of an old property converted into 4 flats. The 99 year lease has 67 years remaining. I would like to gift the lease to my 2 children. Am I allowed to do this without offering the freehold to the tenants
          Thankyou
          It is not clear what you want to do. The thread title refers to giving away the freehold, but above you refer to giving them the lease.

          You can give the freehold to your children without offering it to the leaseholders as "a disposal by way of gift to a member of the landlord’s family or to a charity" is exempt. (Section 4(2)(e) of the Landlord and Tenant Act 1987) However, after the disposal notice must be given to the leaseholders.

          The right of first refusal does not in any event apply to a landlord giving away the leasehold estate in any flat he owns. All interests in land are freely alienable and can be given away to whomever you like. That does not though mean that there may in some cases be someone else with a prior right to claim the land nor does it prevent forfeiture of a lease assigned in breach of covenant.

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            #6
            Thankyou everyone.
            Yes it's the freehold of the property I wish to gift to my 2 children. (There are 4 flats and currently 4 leaseholders, no management company). I thought before disposal of a freehold I was required to offer it to the leaseholders but per lawcruncher "a disposal by way of gift to a member of the landlord’s family or to a charity" is exempt. (Section 4(2)(e) of the Landlord and Tenant Act 1987)" removes this requirement. Have I understood correctly? I hope so. Thanks again

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              #7
              Yes, you have understood correctly. Statutes are sometimes opaque, but I think that section 4(2)(e) is crystal clear.

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                #8
                Thankyou very much

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