• A Property With 2 Titles

    By Guest on 05th Mar 2021

    Hi. I have had an offer accepted for a property and information provided by my conveyancing solicitors has shown the property has two land registration titles.

    Looking at the plans, originally the house was freehold. Then the vendors granted a leasehold after they bought the house. Currently the freehold property is owned by a bank and the sellers own the leasehold property. However there is no value attached to the leasehold property as it's attached to the freehold's.

    The seller's solicitors only offered us contract for the leasehold property, which obviously we won't take it. Our solicitors has been chasing them for weeks and demand for the freehold contract as well, but they haven't heard anything back.

    Does anyone probably know how come a bank ended up being a freeholder and the vendor is only a leaseholder? Is this some kind of mortgage? And also how come the value of the property is attached to the freehold property. I thought normally it attached to the leasehold, otherwise how they can sell a property with no value?

    I am so confused. Please help. Thank you.

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