Hi everybody,
My partner and I own the 1st and 2nd floor maisonette of a shared freehold building. The other shared freeholder owns the ground floor maisonette and the garden. We own 50% of the freehold each.
We are top floor an our maisonette has access to the roof space and seemingly the lease suggests that we also own the roof (see photo). Our maisonette does not have any outdoor space.
Subject to planning permission we would like to convert the roof into a roof terrace. This we would pay for and we would wish to own the roof terrace outright while retaining a 50/50 split of freehold ownership.
The other owner and I have discussed this, and while he is generally against the idea, we both amicably agree that a 'compensation' payment could see us reach an agreement. The trouble is neither of us know what would be considered a fair figure.
Can anybody give any advice or experience on what would be considered a fair figure in such circumstances?
Also if anybody understands the lease extract in the photo, can it be confirmed that we do own the roof?
Thanks in advance.
My partner and I own the 1st and 2nd floor maisonette of a shared freehold building. The other shared freeholder owns the ground floor maisonette and the garden. We own 50% of the freehold each.
We are top floor an our maisonette has access to the roof space and seemingly the lease suggests that we also own the roof (see photo). Our maisonette does not have any outdoor space.
Subject to planning permission we would like to convert the roof into a roof terrace. This we would pay for and we would wish to own the roof terrace outright while retaining a 50/50 split of freehold ownership.
The other owner and I have discussed this, and while he is generally against the idea, we both amicably agree that a 'compensation' payment could see us reach an agreement. The trouble is neither of us know what would be considered a fair figure.
Can anybody give any advice or experience on what would be considered a fair figure in such circumstances?
Also if anybody understands the lease extract in the photo, can it be confirmed that we do own the roof?
Thanks in advance.