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leasehold to freehold during conveyancing

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  • 19-02-2020 8:35pm
    #1
    Idonotknow
    Registered Users Posts: 78 ✭✭


    Hey, does anyone know if it’s standard in conveyancing for the solicitor to process a leasehold to a freehold for a house?


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    #2
    ittakestwo
    Registered Users Posts: 1,644 ✭✭✭ittakestwo


    It's not standard. Will be more expensive if you want to buy out the freehold of a leasehold title property.... there is two conveyances involved. First you buying the leashold interest in the property and then from that buying the freehold by the Landlord Tenant Act.


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    #3
    Claw Hammer
    Registered Users Posts: 6,163 ✭✭✭Claw Hammer


    Idonotknow wrote: »
    Hey, does anyone know if it’s standard in conveyancing for the solicitor to process a leasehold to a freehold for a house?

    Absolutely not. It is a separate and distinct piece of work.


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    #4
    Esel
    Registered Users Posts: 22,015 ✭✭✭✭Esel


    Claw Hammer wrote: »
    Absolutely not. It is a separate and distinct piece of work.
    What would this cost, approximately? I would have thought it is fairly straightforward.

    Not your ornery onager



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    #5
    Claw Hammer
    Registered Users Posts: 6,163 ✭✭✭Claw Hammer


    It may be straightforward but it may be necessary to register the new freehold title. If the freehold is not registered there will be charges for the and registry for the new registration as well as the cost of the application. It could involve several hours of work so the whole thing could cost 1k before professional fees. Depending on the solicitor, the hourly rate could run from €100 to €500.


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    #6
    PommieBast
    Registered Users Posts: 2,578 ✭✭✭PommieBast


    Esel wrote: »
    What would this cost, approximately? I would have thought it is fairly straightforward.
    Not if the landlord is unknown or uncooperative. When I had similar issues with a property I was sale agreed on I got the impression that the process is tedious rather than expensive. Only €1-2k but potentially taking months.


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    #7
    NUTLEY BOY
    Registered Users Posts: 2,344 ✭✭✭NUTLEY BOY


    It is a while since we bought out the fee simple interest thus converting the title from leasehold to freehold.
    We encountered a potential hazard.

    As I remember it under the Landlord and Tenant (Ground Rents) (No. 2) Act, 1978 you had two options.
    You could purchase the interest directly from the holder of the fee simple interest by using the consent procedure or you could use the arbitration scheme.

    The ground landlords to whom we paid the annual ground rent sent us a notice in the form of an offer to let us buy out their interest and to acquire the fee simple interest.
    The figure was reasonable so we sent back the relevant paperwork.
    They then withdrew the offer as they discovered that there was another interest above theirs on the title.
    So, if the transaction had been completed our fee simple title would not have been as sound or defensible as we thought :mad:

    For a few reasons - including intended building alterations - we decided to buy out the fee simple interest anyhow.
    We used the arbitration scheme as operated by the Property Registration Authority. It cost more than the consent procedure but our understanding of that nice vesting certificate is that our title is totally defensible against all comers. This would not have been the case had we proceeded with the consent procedure.

    Just a note on our experience................


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