Freehold and Lease holder - lease extension
I am a sole freeholders to a property that has been split into 2 flats. I also am the sole leaseholder and owner of one of these flats. I do not hold my properties within a company.
I now need to extend the lease and thought that this would be a straightforward matter being the freeholder- wring!.
My solicitor has informed me that I will need to transfer a share of the Freehold to a trustworthy person (partner/ sister). They can then issue the extension via the Land Registry I then have to put the freehold back to my ownership. However there may be a tax implication.
Any ideas on how to do this without incurring and hefty tax bill and doubling the solicitors fees?
Want to read more?
This is a members only forum, if you want to read more you need to login to your membership, if you are not a member, click here to join.