Unite Title Lease For Free

Merger of real property lots 'Merger is the absorption of a lesser estate by a greater estate, and takes place when two distinct estates of greater and lesser rank meet in the same person or class of persons at the same time without any intermediate estate.

As the name implies, a leasehold estate is created through a lease for real property (real estate.) A leasehold estate refers to a tenant's exclusive, but temporary, right to possess, occupy and use real estate (land or property) during the term of a lease.

You can ? as long as there are no prohibitions on letting contained in your lease ? and leasehold properties often make better investments than freehold properties. Leasehold properties are generally cheaper than freehold properties and located in more desirable areas.

The doctrine of merger applies where one person owns two or more estates in the same land. It developed in the context of common ownership of consecutive freehold estates, but was extended to apply where one person owns consecutive leasehold estates, or a freehold and a leasehold estate.

You only own a leasehold property for a fixed period of time. You'll have a legal agreement with the landlord (sometimes known as the 'freeholder') called a 'lease'. This tells you how many years you'll own the property. Ownership of the property returns to the landlord when the lease comes to an end.

There is no hard and fast rule about the minimum length a lease should be when it is sold. However, a number of buyers will be discouraged from buying a lease that is nearing or less than 80 years in length. When the length of a lease falls below 80 years, the cost of a lease extension increases dramatically.

The leaseholder, who held the lease for 99 years, loses their rights to the property, and it goes back under the control of the freeholder. Typically, when a lease is about to expire, leaseholders and freeholders may negotiate a lease extension or enter into a new lease agreement.