• Can I Gift My Leasehold Flat To My Son

    By Guest on 31st Mar 2016

    I have a leasehold flat which is my residence but I am thinking that gifting it to my son might be a good option for me . . would I be allowed to gift the property to him or bequeath it to him in my will the remaining lease is 62 years . .

  • 2 Answers

    By Guest on 31/03/2016

    You can certainly bequeath it. Whether or not you can gift it now depends on:
    A) whether you have a mortgage (if you do it would need to be repaid); and
    B) whether there is any covenant in the lease which prevents anyone other than the lessee occupying the property ( which might be the case if it is a retirement property)

  • By Guest on 02/04/2016

    thanks for your prompt reply . . something linked to my query is if i chose not to extend the leasehold on my flat ( The cost of extending might be restrictive) and at the time of my death there was still 30 years on the lease would my son have difficulty selling the property on

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