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Hi there,
I am really confused, hope you can help.
I live in a building with two flats.
I am buying share of Freehold, with the soon to be new owner of the downstairs flat. I have lived in the upstairs flat as owner/occupier for 5yrs. Downstairs was owned and rented out by the person now selling the flat and in turn the freehold (to myself and the new buyer). Questions are...
-Downstairs is getting the share of freehold for free/included in sale price. Whereas i am having to pay £5k. Reading around i got the impression they cannot do this, and have to charge both parities the same? As the downstairs buyer has simply got the freehold included (and its not expressed as £5k wrapped in) doesnt that mean its effectively free, and should be the same for me here too? What are my rights here?
-my current leasehold is 130yrs and ground rent is £100. Downstairs has negotiated 999yrs and peppecorn rent. With share of freehold we will both freeholders & leasholders, so will want to change my terms to be as good downstairs. Can i force them to change my leasehold now as part of this process? (they are currently doing the paperwork).
Btw my leverage is they are desperate to sell (in a chain) so i will refuse to sign transfer of freehold till, these terms have been met.
Thanks!
I am really confused, hope you can help.
I live in a building with two flats.
I am buying share of Freehold, with the soon to be new owner of the downstairs flat. I have lived in the upstairs flat as owner/occupier for 5yrs. Downstairs was owned and rented out by the person now selling the flat and in turn the freehold (to myself and the new buyer). Questions are...
-Downstairs is getting the share of freehold for free/included in sale price. Whereas i am having to pay £5k. Reading around i got the impression they cannot do this, and have to charge both parities the same? As the downstairs buyer has simply got the freehold included (and its not expressed as £5k wrapped in) doesnt that mean its effectively free, and should be the same for me here too? What are my rights here?
-my current leasehold is 130yrs and ground rent is £100. Downstairs has negotiated 999yrs and peppecorn rent. With share of freehold we will both freeholders & leasholders, so will want to change my terms to be as good downstairs. Can i force them to change my leasehold now as part of this process? (they are currently doing the paperwork).
Btw my leverage is they are desperate to sell (in a chain) so i will refuse to sign transfer of freehold till, these terms have been met.
Thanks!
