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Nov, 2014

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  1. #41
    Join Date
    Jun 2010
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    Foundation trench for New Shed@ Ham on Rye
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    Quote Originally Posted by tim123456789 View Post
    OK

    But I still don't see how that affects a tenants right to buy the FH

    tim
    But my answer, quoted, was in response to a differer question, no this one....

    RD value to a landlord, though minimal in this case it seems, affects a negotiated surrender, the landlord gets his sticky mits on the site much sooner. He would likely pay a premium for that.
    Based on the information posted, I offer my thoughts.Any action you then take is your liability. While commending individual effort, there is no substitute for a thorough review of documents and facts by paid for professional advisers. More ramblings atleaseholdpropertymanager.blogspot.com

  2. #42
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    Jun 2010
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    Quote Originally Posted by faustocoppi View Post
    Sorry I know it's not going to say directly, but where it might hint at more freeholder rights once you do go this route.

    I know you can't re extend again after you go this route.
    Under the current lease he cannot repossess for redevelopment but under the 50 year extension the FH can with compensation of course.
    Based on the information posted, I offer my thoughts.Any action you then take is your liability. While commending individual effort, there is no substitute for a thorough review of documents and facts by paid for professional advisers. More ramblings atleaseholdpropertymanager.blogspot.com

  3. #43

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    Quote Originally Posted by leaseholdanswers View Post
    Under the current lease he cannot repossess for redevelopment but under the 50 year extension the FH can with compensation of course.
    Hi

    Have there been any former cases of this?
    Where a freeholder has then taken back the property.

    Or Where the freeholder suddenly gets more rights?
    None of the sites that talk about a 50year lease talk about the implications of this.

  4. #44
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    Jun 2010
    Location
    Foundation trench for New Shed@ Ham on Rye
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    Quote Originally Posted by faustocoppi View Post
    Hi

    Have there been any former cases of this?
    Where a freeholder has then taken back the property.
    If you had as psoted read the legislation you would see its in section 17.
    http://www.legislation.gov.uk/ukpga/1967/88/section/17

    Freeholder gets more rights
    come on you are reading far too much into it.

    Whether the house can be redeveloped is a matter of professional assessment and a decision based on risk of seeking the 50 year extension, and the potential rewards to offering an early surrender.

    Quit googling around for the answer, you are wasting your time. Your friend needs to make a decision.You have the options.
    Based on the information posted, I offer my thoughts.Any action you then take is your liability. While commending individual effort, there is no substitute for a thorough review of documents and facts by paid for professional advisers. More ramblings atleaseholdpropertymanager.blogspot.com

  5. #45
    Join Date
    Aug 2008
    Posts
    3,437

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    This LVT case may help your friend:

    http://www.lease-advice.org/decisions/67pdf/269.pdf

  6. #46
    Join Date
    Feb 2011
    Posts
    135

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    Quote Originally Posted by leaseholdanswers View Post
    But my answer, quoted, was in response to a differer question, no this one....

    RD value to a landlord, though minimal in this case it seems, affects a negotiated surrender, the landlord gets his sticky mits on the site much sooner. He would likely pay a premium for that.
    Perhaps I got lost in the threading, but I thought that you were responding to me when I asked (something like):

    "Why would the RD value to the FH be worth more than the current value to a new buyer who can afford to buy the FH".

    And I still don't see the relevance of the 50 year extension to this question - because the new buyer is not going to take the 50 year extension he's going to exercise his rights to buy the FH (albeit after a 2 year wait)

    tim

  7. #47
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    Jun 2010
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    Foundation trench for New Shed@ Ham on Rye
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    its a good question. There are a number of reasons based on the nature of the buyer, hope value, marriage value (not in the FH/LH) sense, finance and transactional costs,and the different valuations between an open market sale and enfranchisement.Opportunity cost in the yields also factor in.

    In any given situation they might be the same or more advantageous to another buyer. That's why its important to have a valuation done so as to assess the position on any particular house. You might even come across restrictions on the house for development which the freeholder might not enforce on themselves, but a new freeholder might still be bound by as a restrictive covenant.
    Based on the information posted, I offer my thoughts.Any action you then take is your liability. While commending individual effort, there is no substitute for a thorough review of documents and facts by paid for professional advisers. More ramblings atleaseholdpropertymanager.blogspot.com

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