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General Info & Guidance
Split a title
Split a title
Posted
Tue, 12 Sep 2023 09:17:18 GMT
by
Rajendra Jadeja
Hi
I own a property which comprises of a retail outlet on the ground floor and four flats above, all self contained. The access to the flats is via a totally separate door from the retail unit. The utilities to the flats are also totally separate from the shop. At the moment the whole property is under one title, my question is - can I split the title into two, one title for the shop and the second title would include all the flats.
Thanks
Posted
Tue, 12 Sep 2023 09:34:30 GMT
by
Adam Hookway
Hi Rajendra - have a read of
this previous thread
for guidance
Posted
Tue, 12 Sep 2023 11:40:14 GMT
by
Rajendra Jadeja
Dear Adam
Thank you very much for your very prompt response. I did read the previous post but that read to me as wishing to split the title in a sort of horizontal manner, if that makes sense, ie both parts would have their own piece of land they would sit on. In my case its a sort of vertical split. I know it is possible to set up a company and put the freehold in it and then lease out the properties. But I was wandering whether it is possible to split the property into two freehold titles, one comprising of the shop and the other comprising of the flats. I have been told, not by a lawyer, that this may be possible because both properties haev completely separate door/entrances and utilities etc.
Many thanks
Posted
Tue, 12 Sep 2023 12:56:14 GMT
by
Adam Hookway
Rajendra - a split is a split in registration terms be it horizontal or vertically so the same guidance applies.
Posted
Wed, 13 Sep 2023 06:33:24 GMT
by
Rajendra Jadeja
Thanks Adam, I just wanted to know if it is possible to a split title 'horizontally'. Appreaciate your feedback, thank you
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