Is there anyone out there that knows about freehold/ lease set ups?
I have converted an ex pub into 2 apartments which I have lived in one and rented the other out.
I am considering selling one now and possibly the other in a year or so.
As I owned them both the freehold, lease arrangements were not important but I now need to set them up to be the best for all sale outcomes and desirability.
I was going to make the ground floor freehold and upstairs on a lease. I was advised yesterday that it would be better to set up a ltd company and have both flats owning the freehold 50/50 to ensure shared control of service charge and maintenance.
Any advice will be welcome.
I don't want to rely on my solicitor advice solely until I can make an informed decision.
Many thanks guys.
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