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I am buying the freehold of a block of nine flats. Each flat is subject to a 125 year lease which was created solely to allow finance to be raised to enable the development of the block to be completed. The leasehold interests are also being transferrred to me
When I purchase, those leases will merge into the freehold (because I want them to as I consider them defective) so in reality I am buying a block with vacant possession and not subject to any long leasehold interests. The legislation does not envisage this scenario which I’m sure must happen quite regularly. Does anyone have a view on how they would treat that circumstance.
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