What we achieved
- Secured a share of the freehold alongside the leasehold purchase.
- Corrected the lease to include the full extent of the garden.
- Negotiated a deed of variation before completion, avoiding future legal complications.
- Reduced ongoing costs by securing a peppercorn ground rent.
- Protected the property’s long-term value and future marketability.
The challenge
Our client was purchasing a leasehold property but wanted more than a straightforward conveyancing transaction. Alongside the purchase in London, they wished to acquire a share of the freehold, which was not currently owned by the leaseholders.
During our investigations, we also identified that the lease did not accurately reflect the property being sold. The legal extent of the demise excluded part of the garden that the client believed they were purchasing. Without correcting the lease, the client would have faced uncertainty over ownership and potential issues when selling or remortgaging the property in the future.
Our approach
We worked closely with the seller’s solicitors and the relevant parties to resolve each issue before completion.
To ensure the lease accurately reflected the property, we drafted and negotiated a deed of variation to amend the demise. This ensured the lease included the full extent of the garden and accurately recorded the property our client was buying.
At the same time, we advised on the acquisition of a share in the freehold. As part of the transaction, we also secured a variation to the lease so that it would carry a peppercorn ground rent, giving the client greater long-term security and reducing future financial obligations.
By managing all aspects of the transaction together, we ensured the legal documentation was consistent and protected our client’s interests from the outset.
The outcome
The client completed the purchase with a lease that accurately reflected the full extent of the property, including the entire garden. They also acquired a share in the freehold and benefited from a peppercorn ground rent, significantly improving the long-term value and marketability of the property.
By resolving these issues before completion, we helped the client avoid the cost, delay and uncertainty of having to correct the legal position at a later date.
How Tees helped
Leasehold transactions often uncover issues that are not immediately apparent. Our Property Conveyancing team takes the time to identify potential problems early and find practical solutions before they become obstacles.
Whether you are buying your first leasehold property or acquiring a high-value home, we will make sure the legal documentation accurately reflects what you are purchasing and protects your interests for the future.
