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ChrisB

 

Posts: 1
Joined: 23/1/2002
 

flying lease

 
My girlfriend have found the right house in the right location at a conspicously good price. The house is split verticly right up the centre. We would be buying the whole building but a shop owns a lease on one half and pays a pepercorn rent. The insurance is split between the shop owners and the house but that's all I know. "Our" half would be plenty big enough but people keep warning us away from flying leases. What are they? Why are they so bad? Is there any way we could buy the lease for the shop too (perhaps with a deal regarding rent and tenancy). Would this be a good idea? What about repairs and future sale?


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  Report Abuse |  Date 23/1/2002 11:51:00 PM
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danjohnson

 

Posts: 245
Joined: 12/5/2000
 

flying lease

 (in reply to ChrisB) 
Unfortunately, this is delving into the area of commercial property law, something in which we can't really offer any help. I would suggest you speak to a solicitor from an office that deals with both residential and commercial property - they will be in a better position to advise. Sorry we could not be of any more help.


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  Report Abuse |  Date 24/1/2002 7:03:00 PM
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