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 cityguru Your Own Question
cityguru
cityguru, Solicitor
Category: Property Law
Satisfied Customers: 13325
Experience:  solicitor
18726264
Type Your Property Law Question Here...
cityguru is online now

What is meant by collapsing a Lease?

Resolved Question:

What is meant by collapsing a Lease?
Submitted: 3 years ago.
Category: Property Law
Expert:  cityguru replied 3 years ago.
It means the lease ceases to exist. There is a basic principle of law that you cannot contract with yourself. So if you as an individual are the leaseholder and also become the landlord then the lease will cease to exist. It will in effect merge into the freehold title. That is easily avoidable by either buying the freehold in a company name or jointly with your husband.

There reason to keep it separate is that a future buyer may not want to take on the hassle of running the freehold.
cityguru and other Property Law Specialists are ready to help you