S
shengmin
New Member
Good evening,
Bought a Leasehold groundfloor flat (on a semi-detached house with grd floor+1st floor).
Lease says "IF two or more persons parties hereto comprise the Lessee they shall be jointly and severally liable on the covenants on the part of the Lessee herein contained and shall be beneficially entitled to the Demised Premisses as joint tenants and pending the sale of the Demised Premisses the trustees for the time being of this deed shall until the expiration of Eighty years from the date hereof have the same full and unrestricted power of mortgaging leasing or otherwise dealing with the Demised Premisses as an absolute owner."
But on the THE FIRST SCHEDULE says the "TERM: Nine hundred and ninety nine years from the date hereof" (1997)
What does it mean ? we call pull the house down, but need to have it built back before the 80th year ?
What happens after the 80th year ?
lease expires ? or just in 900+ years ?
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Also says the common installations are "gutters, things conveying rainwater, chimney stacks, etc"
But that I'm responsible for "the building below level of the top of the brickwork supporting the joists which the 1st floor is on"
And the upper neighbour responsible for "above the level of the top of the brickwork supporting the joists upon which the 1st floor rests...including the roof and roof void of the building"
Does it mean the Lessor is responsible for the gutters? or my neighbour above ?
---------------
What about Insurance ?
Who is responsible for insuring the building ?
My mortgage company required me to insure the full building, but I'm on a leasehold !? very confusing...
Who is responsible (which party) for subsidence, for example if it happens ?
Bought a Leasehold groundfloor flat (on a semi-detached house with grd floor+1st floor).
Lease says "IF two or more persons parties hereto comprise the Lessee they shall be jointly and severally liable on the covenants on the part of the Lessee herein contained and shall be beneficially entitled to the Demised Premisses as joint tenants and pending the sale of the Demised Premisses the trustees for the time being of this deed shall until the expiration of Eighty years from the date hereof have the same full and unrestricted power of mortgaging leasing or otherwise dealing with the Demised Premisses as an absolute owner."
But on the THE FIRST SCHEDULE says the "TERM: Nine hundred and ninety nine years from the date hereof" (1997)
What does it mean ? we call pull the house down, but need to have it built back before the 80th year ?
What happens after the 80th year ?
lease expires ? or just in 900+ years ?
-------------------
Also says the common installations are "gutters, things conveying rainwater, chimney stacks, etc"
But that I'm responsible for "the building below level of the top of the brickwork supporting the joists which the 1st floor is on"
And the upper neighbour responsible for "above the level of the top of the brickwork supporting the joists upon which the 1st floor rests...including the roof and roof void of the building"
Does it mean the Lessor is responsible for the gutters? or my neighbour above ?
---------------
What about Insurance ?
Who is responsible for insuring the building ?
My mortgage company required me to insure the full building, but I'm on a leasehold !? very confusing...
Who is responsible (which party) for subsidence, for example if it happens ?
