Bought out leasehold but showing on land direct as leasehold

buzz11

A relation of mine bought out the leasehold of their property 2 years ago but its unchanged on land direct and still showing as leasehold i.e. its hatched in green.

When she queried this with her solicitor they said that they own the lease now so they are lessor and lessee -- and that it stays showing on land direct as leasehold.

Seems a bit odd -- why doesnt it convert to freehold on the land direct website?

mickuhaha

buzz11 wrote: »

A relation of mine bought out the leasehold of their property 2 years ago but its unchanged on land direct and still showing as leasehold i.e. its hatched in green.

When she queried this with her solicitor they said that they own the lease now so they are lessor and lessee -- and that it stays showing on land direct as leasehold.

Seems a bit odd -- why doesnt it convert to freehold on the land direct website?

You might now have the two on different folios. You might need to apply to have the folios merged.

buzz11

mickuhaha wrote: »

You might now have the two on different folios. You might need to apply to have the folios merged.

Ok thanks, I'll ask her about that.

Is merging two folios a straightforward process? I could help her with it

mickuhaha

buzz11 wrote: »

Ok thanks, I'll ask her about that.

Is merging two folios a straightforward process? I could help her with it

It all depends. If they bought out the leasehold via ground rent scheme they would have a vesting cert that they would need to lodge to the prai to have the title converted to freehold. They would need to speak with the prai or their solicitor to find out.

buzz11

mickuhaha wrote: »

It all depends. If they bought out the leasehold via ground rent scheme they would have a vesting cert that they would need to lodge to the prai to have the title converted to freehold. They would need to speak with the prai or their solicitor to find out.

She bought the freehold from the local authority (who got it from some english landlord going back long time), she paid a few thousand for it and is fairly sure it wasn't through the ground rent scheme

mickuhaha

buzz11 wrote: »

She bought the freehold from the local authority (who got it from some english landlord going back long time), she paid a few thousand for it and is fairly sure it wasn't through the ground rent scheme

If she got it from a local authority she would likely have been given a vesting cert or the solicitor doing it on her behalf may have taken another approach depending on the circumstances. She would need to know what documents she has before she can decide what she can do next. She can contact the ground rent section in the prai and see if they have issues a vesting cert.

buzz11

mickuhaha wrote: »

If she got it from a local authority she would likely have been given a vesting cert or the solicitor doing it on her behalf may have taken another approach depending on the circumstances. She would need to know what documents she has before she can decide what she can do next. She can contact the ground rent section in the prai and see if they have issues a vesting cert.

Great thanks for that, I'll check further with her -- its a nice lockdown project that I can help her with.

Claw Hammer

If the freehold was purchased there are 2 titles. The Law Society do not recommend merging the titles after purchase, at least until after some years have passed to ensure one title, if defective, does not contaminate the other. If selling you will be giving 2 titles to the purchase so they will get a freehold.

buzz11

Claw Hammer wrote: »

If the freehold was purchased there are 2 titles. The Law Society do not recommend merging the titles after purchase, at least until after some years have passed to ensure one title, if defective, does not contaminate the other. If selling you will be giving 2 titles to the purchase so they will get a freehold.

Thank you for that -- it makes total sense and explains the setup on land direct

pummice

Looking a purchasing a property - the land its on does not have a folio number on landdirect.ie. What does this mean and what are the implications when purchasing it?

Shauna677

https://www.boards.ie/discussion/comment/120988387#Comment_120988387

Its probadly on the Register of Deeds, when you purchase it, it will go on land registry and the legal side of transfering it will be couple thousand euro unless the sellers will cough up.

Lenar3556

https://www.boards.ie/discussion/comment/120988387#Comment_120988387

Most likely just that the title isn’t yet registered with PRAI. Very common if the property didn’t change hands in recent years.

No particular implications, it will need to be registered if you decide to purchase it and this would be part of the conveyance process.

It it a private treaty sale?