Residential I own 50% of freehold and the other flat own the other 50% tenants are the same people who own the freehold if this the case do we need to renew the lease before selling or do we own it outright that my understanding.
Ok the property consist of 2 flats residential both tenants owns their own flat and the freehold 50% each. Now one owner would like to sell her property she has been informed that she needs to renew her lease despite the property being a freehold.
Sorry I don't understand she has the freehold for her flat why would you go down the leasehold route again.
Sorry for the delay I'm still trying to get my head around this.
Just few points to clarify this situation.
1. initially the property was on a leasehold
2. Option to buy the leasehold for freehold was made the option for freehold was taken
3. Received confirmation about being freehold owners haven paid charges applicable
4. Do not understand why property status should change to leasehold.
5. Why should tenancy come into this process when we own the property as freeholders.