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wingrovebuyer
wingrovebuyer, Senior Solicitor
Category: Property Law
Satisfied Customers: 737
Experience:  Bachelor of Laws (Honours); PG Diploma in Law; Member of ALA; 9 years' experience
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I am a long term leaseholder of a 1st floor maisonette the

Customer Question

I am a long term leaseholder of a 1st floor maisonette the grnd floor maisonette is the freeholder. The freeholder is overly Keen for me to buy a share of the freehold before they sell the property. The freeholders property is in a bad state of repair it has never had a kitchen or bathroom it needs all exterior pointing done and has had damp for 40 years. I don't understand why they are so desperate for me to share the freehold. Would it make me 50% responsible for the cost of all external work that gets done once the property is sold? What would be the downside as they wouldn't normally want to help me out, should I just remain a leaseholder as I don't have lots of savings.
Submitted: 3 years ago.
Category: Property Law
Expert:  wingrovebuyer replied 3 years ago.

wingrovebuyer : Hello. I can't see any advantage for you in owning a share in the freehold unless you want to do work to the building. If you did own a share in the freehold you would likely be 50% liable for repairs etc to the building, and so it seems they simply want on pass on a liability rather than an asset.

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