Leasehold Properties
Leasehold Sales/Purchases is a service that involves the transfer of ownership of a leasehold property from one party to another. This service is typically provided by legal professionals who specialise in property law and have a deep understanding of the complexities involved in leasehold transactions.
In a leasehold sale, the leaseholder (also known as the lessee) sells their interest in the property to a buyer. This involves transferring the rights and obligations under the lease to the new owner. The leaseholder may be selling their leasehold interest for a variety of reasons, such as a desire to move to a new location, financial necessity, or the end of their need for the property.
On the other hand, a leasehold purchase involves a buyer acquiring a leasehold interest in a property from the current leaseholder. The buyer becomes the new leaseholder and assumes the rights and obligations under the lease. This can be an attractive option for individuals or businesses that need a property for a specific period but do not wish to purchase the freehold.
The process of leasehold sales/purchases can be complex and requires careful attention to detail. It involves several stages, including negotiation of terms, drafting and reviewing of legal documents, conducting due diligence to ensure there are no hidden issues with the property, and finally, completion of the transaction.
Legal professionals offering this service need to have a thorough understanding of property law, including the Law of Property Act 1925 and the Landlord and Tenant Act 1985, as well as any recent case law that may impact the transaction. They also need to be able to advise their clients on the potential risks and benefits of the transaction, and guide them through the process to ensure a smooth and successful outcome.
In summary, Leasehold Sales/Purchases is a specialised service that involves the transfer of leasehold property interests. It requires a deep understanding of property law, meticulous attention to detail, and the ability to guide clients through a complex and potentially stressful process.
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If it were possible to give more than five stars I would. Levi has been amazing throughout the entire house selling process. He is always available, helpful and wise , providing advice and counsel in addition to having a forensic knowledge of conveyancing procedures. I recommend him without hesitation for his his honesty, integrity and professionalism.
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