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Hi all, hope someone can help, this is bit of an unusual one. We are currently in the process of buying a house. The house was a 50% shared ownership with previous owners, they left their share to their son. We are buying the 100% freehold. As I understand it the son is staircasing to 100% and then simultaneously selling to us, this has all been agreed but the housing management company that own the other 50%.
The issue I have is that our solicitors have sent us the home buyers legal report and it states " the interest you are buying is the leasehold". It then later in the document goes on to confirm the staircasing plan. Now I'm obviously not a conveyancer but I believe at no point are we buying a leasehold as the seller will own 100% and the freehold when he sells to us. I've questioned it with the solicitors but they say it's correct and no need to change it. I just don't feel comfortable signing something with a statement that I don't believe is correct. Had anybody had similar situation of buying 100% of a current shared ownership home?
The issue I have is that our solicitors have sent us the home buyers legal report and it states " the interest you are buying is the leasehold". It then later in the document goes on to confirm the staircasing plan. Now I'm obviously not a conveyancer but I believe at no point are we buying a leasehold as the seller will own 100% and the freehold when he sells to us. I've questioned it with the solicitors but they say it's correct and no need to change it. I just don't feel comfortable signing something with a statement that I don't believe is correct. Had anybody had similar situation of buying 100% of a current shared ownership home?
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