How to Buy a Flat: All You Need to Know About Apartment by Liz Hodgkinson

By Liz Hodgkinson

Purchasing a flat to reside in or to permit isn't like purchasing and dwelling in a home. for instance, flats are bought leasehold instead of freehold this means that you purchase a size of tenure instead of the valuables itself. this may have critical implications whilst the freeholder without warning hikes up the carrier fees or lands you with a six determine sum for external ornament. And extra quarrels and proceedings come up between flat dwellers than with the other kind of housing. So it's crucial that, if you cannot 'love thy neighbor' you could a minimum of co-exist quite peacefully jointly for everyone's profit. This booklet explains the advanced leasehold legislation governing apartments and offers professional suggestion on the right way to dwell amicably in an condo construction. It good points subject matters reminiscent of: realizing the legislation that govern a number of career; the different sorts of communal housing on hand; how rentals paintings; administration and articles of organization; universal difficulties and their suggestions; making a choice on a great condominium; purchasing the freehold; and working with nuisance neighbours.

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A CONTINUING PROBLEM What we now understand as leasehold law developed piecemeal as more people became interested in buying their flats or, at least, in buying a long lease. But our complicated system goes back to the Norman Conquest, when William the Conqueror annexed all the land in the country for himself. THE H I S T O R Y OF A P A R T M E N T B U I L D I N G S / 27 William declared that all the land belonged to him and then gave it away to his followers in return for services to the king. These new landholders were originally known as tenants and their holdings, as tenures.

Very often, common parts are dilapidated and rundown and there are likely to be areas nobody bothers about, especially if all the residents jointly own the freehold. When I lived in a conversion, there was a cupboard at the top of one landing that seemed to belong to nobody; consequently it was full of rubbish, and none of the residents would take the responsibility of clearing it out. In most conversions, the apartments are far from being equal in size or grandeur. There will usually be one grand flat, which constituted the family's living quarters in Victorian days, and then as you go upstairs, the flats get smaller and less well appointed, as they were usually the original servants' quarters.

The point about tenure is that the landholder did not absolutely own the land but derived right of possession from somebody else, and for a specified time. During the Middle Ages, there were three types of ownership in existence: 'estate in fee simple'; 'estate in fee tail' and 'life estate'. The types of ownership Briefly, the first type of ownership meant that land could be inherited by the owner's male heirs according to the system of primogeniture; the second type of ownership meant that there was an identified line of succession outside which the land could not be transferred, and the third simply lasted for the life of the tenant, and ended on his death.

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