Leasehold and freehold law can be a legal minefield for homeowners. Our property law experts cut through the jargon and provide transparent, straightforward advice on all legal matters concerning leaseholds and freeholds.
Freehold and leasehold are both forms of property occupation, but there is more at stake between the two than a mere difference in technical legal language. Unfortunately, many estate agents tend to gloss over the differences, which is why our legal advice service is useful whenever you are planning to buy a property in Derby.
Essentially, when you purchase a freehold you gain complete legal ownership of the property, including the building(s) and the land. You have the freedom to develop and maintain the property within your statutory rights, without owing any obligations to a landlord or freeholder.
With a leasehold agreement, you lease a property from another freeholder, or landlord, for a set number of years. Unlike private rentals, leaseholds are usually long-term – some 21 years, but many being 40, 90, 120 or even 999 years in length.
A leasehold purchaser does not owe a monthly rent to their landlord, but they will normally pay an annual ground rent, as well as a service charge for maintenance and a contribution to the building’s insurance. Some leases come with obligations, such as a restriction on pet ownership or the modifications that can be made to the property. Lease terms are often a source of contention between freeholders and their lessees.
Whether you are looking to purchase a leasehold property, or you're the freehold owner of a property that is currently being leased out, our legal services seek to resolve conflict and establish equitable lease terms for all parties involved.
If you are unsure about the terms of a lease or you're thinking of buying a leasehold property, come and talk to us. We offer a free consultation where we can discuss your situation and help you understand your legal rights and responsibilities.
You can arrange an appointment with one of our property specialists by calling 01332 346 430, or by emailing email@example.com.