land law??

Originally posted by stoker
i am the lease holder as he is the freeholder

Aggggggggghhhhhhh. Who owns the property, or holds the mortgage on it?

Originally posted by Sam The Sham
Aggggggggghhhhhhh. Who owns the property, or holds the mortgage on it?

Did you read the wiki link?

A freeholder owns the property forever. Leaseholds are bought from the freeholder for a long period of time (about 100 years) and change hands as per freehold deeds, except at the end of the leasehold agreement, you need to renegotiate with the freeholder about extending the leasehold (which I believe the freeholder is legally obliged to do)

D

Originally posted by Ragnorak
Did you read the wiki link?

A freeholder owns the property forever. Leaseholds are bought from the freeholder for a long period of time (about 100 years) and change hands as per freehold deeds, except at the end of the leasehold agreement, you need to renegotiate with the freeholder about extending the leasehold (which I believe the freeholder is legally obliged to do)

D

Did you read his previous statement? He said the guy downstairs is the freeholder. If he owns the property forever then how can he be getting kicked out?

Originally posted by stoker
i live in a upstairs flat lease hold. My downstairs is getting reposessed, . Yet i got a letter from his building mortgage saying they will reposess mine and his, tho mine is paid for. they say its because he is the freehold and they issue to both properties but have no intention of repossing my property, yet my property is mentioned in the official letter s ...[text shortened]... ere know if this is true, as they will have to move him with balifs from my experiance with him.

http://england.shelter.org.uk/advice/advice-2918.cfm for basic advice but you really need to see a solicitor asap.

Originally posted by Sam The Sham
Did you read his previous statement? He said the guy downstairs is the freeholder. If he owns the property forever then how can he be getting kicked out?

cos he hasn't paid his mortgage!

mortgages contain provisions that will allow the lender to repossess the property if certain events occur - nonpayment of the mortgage is the most common...

Originally posted by Sam The Sham
Did you read his previous statement? He said the guy downstairs is the freeholder. If he owns the property forever then how can he be getting kicked out?

Do you have to practice to be this 'tarded?

When you get a mortgage on a property you are buying freehold, you in effect become the freeholder - subject to the conditions of the mortgage. AS a freeholder you may choose to divide the property and lease some of it out - to a leaseholder - see wiki link.

In this case, the freeholder isn't paying their dues on the mortgage, so will be getting kicked out - as per the mortgage terms and conditions.

HTH.

edit - Ha! I see that this time it's me that's beaten to it! 1-1, who'll take the decider?!

Originally posted by rhb


edit - Ha! I see that this time it's me that's beaten to it! 1-1, who'll take the decider?!

LOL

Originally posted by rhb
Do you have to practice to be this 'tarded?

When you get a mortgage on a property you are buying freehold, you in effect become the freeholder - subject to the conditions of the mortgage. AS a freeholder you may choose to divide the property and lease some of it out - to a leaseholder - see wiki link.

In this case, the freeholder isn't paying their dues on ...[text shortened]... edit - Ha! I see that this time it's me that's beaten to it! 1-1, who'll take the decider?!

Would have been a lot simpler had he just called the guy the mortgage holder. It was a simple enough question to begin with, and your frivolous insults aren't needed.

Originally posted by Sam The Sham
Would have been a lot simpler had he just called the guy the mortgage holder. It was a simple enough question to begin with, and your frivolous insults aren't needed.

you can buy a leasehold property with a mortgage too

Originally posted by Sam The Sham
It was a simple enough question to begin with, and your frivolous insults aren't needed.

Needed by me - born of frustration at your inane questioning.

Originally posted by notmyrookplease
you can buy a leasehold property with a mortgage too

We have a winner! 2-1, in Overtime!

Originally posted by stoker
My downstairs is getting reposessed, .

looks like you'll have to get the place exorcised again.

Originally posted by Iron Monkey
looks like you'll have to get the place exorcised again.

i'd rather have a ghost than bailiffs around!

Far less scary...

Originally posted by stoker
[b]. My downstairs is getting reposessed, .

Sounds more like the whole place is getting reposessed and you're about to be screwed. See a lawyer.

Originally posted by Sam The Sham
Sounds more like the whole place is getting reposessed and you're about to be screwed. See a lawyer.

You might have missed this on page 1 (and the subsequent post)?

"So leasehold and you pay ground rent to the Landlord.

In this event I guess (purely that - suggest you seek professional advice) that the guys doing the reposessing will take over the role of landlord - so your ground rent will be paid to them instead, and you'll stay in situ until they sell on the property at which point you'll have another new Landlord to pay ground rent to.

Suggest you get PROPER advice though than asking a bunch of Chess Nerds."

It's unlikely Stoker will be screwed, but the need to seek proper advice is well and truley apparent.