Property law question - sub lease

Prezatch

Our house was built in 1958 and was sub leased to the previous owner for a period of 500 years. That owner has since passed away.

We bought the house and we are now registered with the title 'good leasehold' on the folio document and the sub-lease info is also still on it.

Would this have any implications when selling the house perhaps in 10 years time or is there anything to be concerned with? I don't understand the lease jargon

Claw Hammer

You are now the lessee of the house. When you sell you sell your lease, unless you buy the freehold in the meantime.

...Ghost...

You effectively own the remaining portion of the 500 year lease rather than the the property. So who actually owns the property....that's what I would want to know.

Emma2019

https://www.boards.ie/discussion/2058236734/property-law-question-sub-lease

Did your solicitor not explain this to you when you bought the house? I'd be getting them to give you a full run through of the implications.

Claw Hammer

https://www.boards.ie/discussion/comment/118763012#Comment_118763012

Many people can have interests in the same property. Own is a colloquial word in respect of property and the real issue is who has what interest in respect of an estate.

Manion

Are you sure it's the house and not the land? Lots of leasehold properties in Ireland as opposed to Freehold. The implications of which are completely different in the UK so online resources might be miss leading.