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Trouble buying-out lease

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  • 11-07-2011 10:27am
    #1
    Walker34
    Registered Users Posts: 425 ✭✭


    Hi,
    A friend tried to buy out the lease on her property a few years back, and her solicitor said he could not trace the lease holder or something to that effect. He fobbed her off with some similar excuse anyway. Her lease has over 200 years left on it so it not likely to be an issue for her.....assuming she is not bitten by a vampire anytime soon.:-). What is the procedure for forcibly buying out such leases......(assuming that is possible).....I know there was something in the news a few years back about it becoming easier to do.


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    #2
    sophia25
    Closed Accounts Posts: 265 ✭✭sophia25


    I assume you are talking about Gound Rent? If so, The PRAI (Property Registration Authority of Ireland) organise this for a set fee without a need for a solr. She'll need to get a copy of the lease from Title Deeds and complete the relevant documentation. If she phones the PRAI or checks the website, they'll put her right.:)


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    #3
    Walker34
    Registered Users Posts: 425 ✭✭Walker34


    Hi,
    Her house was built in 1860, and she has no ground rent document as such....but the deeds mention that it is a leasehold property. She got a whole folder of documents along with the main title deed, and they detail various owners through that period from 1860 (Order of Nuns)to the present. i think its a 300 year lease myself but am not sure. Her solicitor tried to do this but got no reply from the lease holder when he tried to contact them.
    Is it the same procedure to convert it to freehold......i.e. buying out the lease. I am totally confused by the various terms. TIA btw.


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    #4
    sophia25
    Closed Accounts Posts: 265 ✭✭sophia25


    Yes she is basically buying out the lease and turning it into freehold. There was new procedures to simplify it in 2009 and very few leases are left. If you contact the PRAI they will help you complete the documentation. If you have the folio no. I'm sure they'll be able to sort it out. They would have details of the land owner on record and will finalise the deal for you.


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    #5
    bath handle
    Banned (with Prison Access) Posts: 370 ✭✭bath handle


    If it is not registered land here will be no folio number.from what the op says it does not appear to be registered. There may be neighbours on the same title. A lease needs to be found. It dos not matter abo
    ut the owner.


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    #6
    Walker34
    Registered Users Posts: 425 ✭✭Walker34


    Hi Sophia25 and bath handle,.......thanks a million for the info and particularly the link to The PRAI....that is a real nugget. She also sends her regards.


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