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25-02-2010, 03:05 PM
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Difference between 999 leasehold and share of freehold
Hi,
the flat I have put an offer on has been advertised as share of freehold but now I have received the HIP and the lease says 999 years lease. The lease is owned by the company that has been set up to buy it. Now, my question is: - there is any difference in share of freehold and this type of very long lease (where the lease is own by the company set up for this purpose)? Cheers 
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02-03-2010, 11:12 AM
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Re: Difference between 999 leasehold and share of freehold
Legally, yes there is a difference, but it is likely that a leasehold title is more appropriate, to ensure that covenants (eg: for repair) can be enforced
In practice, if you and the other long leaseholders control the freeholder company, there should be no adverse effect on value as long as the company is run properly
__________________
This is based on my experience as a conveyancing solicitor in England, but I do not accept liability for information I give in this forum
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