Hope someone here has some knowledge of this type of situation and can help me.
I own a house thats part of a small terrace. I have received a letter from another owner in the terrace saying he is seeking to buy out the ground rent for his property. But all the houses on the row were on the same ground lease so he is obliged to inform us all.
The Land registry notice with the letter talks about the other home owners being impacted by the 'demise of the lease'.
So I am presuming the original lease from the 1970's comes to an end. But then is a new lease put in place with the lad who bought out the ground lease for his own place as the landlord for all?
I own a house thats part of a small terrace. I have received a letter from another owner in the terrace saying he is seeking to buy out the ground rent for his property. But all the houses on the row were on the same ground lease so he is obliged to inform us all.
The Land registry notice with the letter talks about the other home owners being impacted by the 'demise of the lease'.
So I am presuming the original lease from the 1970's comes to an end. But then is a new lease put in place with the lad who bought out the ground lease for his own place as the landlord for all?