How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Buachaill Your Own Question
Buachaill
Buachaill, Barrister
Category: Law
Satisfied Customers: 10539
Experience:  Barrister 17 years experience
53108719
Type Your Law Question Here...
Buachaill is online now

We purchased a small office on a folio in a town in Ireland

Customer Question

We purchased a small office on a folio in a town in Ireland but we have only a leasehold interest on the land which is due to run out in 17years. The annual ground rent has never been collected. The old landlord was based abroad before he died. We believe it has been acquired by someone else over the past few years.
We need to know
a) How do I find out who purchased the leasehold interest and b)If I cannot purchase the leasehold interest on this premises, am I entitled to another lease at the end of 17years as I paid for the building on this land. c)How would it be determined what ground rent would be payable. d)Would I have we any rights as we would be the owners for 32years when the lease is due to expire.
Submitted: 1 year ago.
Category: Law
Expert:  Buachaill replied 1 year ago.
1. Dear *****, you will have to search in the Land registry, now the Property Registration Authority, if the land is registered land for the owner of the freehold interest which is the reversion to your leasehold interest. If the land is unregistered, you will have to have a search conducted on your behalf in the registry of deeds. I would suggest you get a solicitor or someone of this nature to check the registered owner for you. You can search online in the PRA, but you would first have to open an account in order that you can search yourself. So, it is not very practical.
Expert:  Buachaill replied 1 year ago.
2. The second point is that when you find the owner, you should immediately put in train matters to buy out the freehold interest of your leasehold interest. However, you need to pay the registered owner 10 years rent in order to profit from the buyout right. So here, where you have not been paying Ground rent you need to remedy this situation. This is because you have a buyout right under the Landlord & Tenant Act. This will ensure you don't suffer the ignominy of being removed at the end of your lease. be aware that there is no automatic right to renewal. This is a limited right - of renewal - however the landlord can defeat this right if he takes appropriate measures, such as if he wants to live or work in the premises himself.
Expert:  Buachaill replied 1 year ago.
3. Having built the building on the premises gives you a stronger right of renewal. However, you need to realise that this person who bought the reversion will also be getting legal advice. So they will most likely seek to defeat your attempt to buy out the freehold interest. For this reason, you should put in train matters to buy out the freehold.
Expert:  Buachaill replied 1 year ago.
4. Please rate the Answer as unless you Rate the answer your expert receives no payment for answering your Question.