Grants of Leases
If you are considering taking a lease of a residential property or buying or selling a leasehold property there are a number of considerations to bear in mind.
These include your rights and responsibilities under the lease you are purchasing, the rent and service charge position, the term of the lease and any lease extension which may be required along with any mortgage lender’s requirements.
A leasehold interest in a property differs from purchasing a freehold interest. A leasehold interest only runs for a certain number of years and there may be restrictions on what can and cannot be done with the property.
Woolsey Morris & Kennedy’s team of experts in the residential property department will ensure that you fully understand your obligations under the lease, will guide you as to the rent and service charge payments due and who has responsibility for day to day management, repair and insurance of the property.
Leases are a tricky area of the law and our team will help put your mind at ease and ensure you are fully informed as to your position.
- Chris Elliott
- Partner, COLP, Head of Litigation