The Wharf: Home Front – March 29, 2007

Q. Can you explain the basic difference between freehold and leasehold interest on property?

A. Since the Law of property act 1925 there have been two legal estates which may be held in land. Freehold (also known as simple absolute in possession) and Leasehold (also known as term of years absolute). Freeholders in theory can do anything they like with their land. In practice this right is limited; as planning restrictions and permissions can be imposed also conservation areas etc impose restrictions. A leasehold is derived from a freehold interest and has 2 key elements being, a fixed duration and exclusive possession. The term or length of the lease is infinitely flexible and can be for any period agreed between the freeholder and the leaseholder. The exclusive possession given under the lease allows the leaseholder to exclude all others from the premises, including the freeholder for the duration of the lease (as long as they comply with the terms of the lease). The lease is a contract between the freeholder and the leaseholder.

“I have known Dawn in a professional capacity for a very long time, as we used to work together for a number of years. She has a comprehensive knowledge of the Docklands real estate market, but this is not her strongest point. What makes Dawn stand out as an agent is the effort she puts into every deal, the relationships she builds with everyone and the passion she has for what she does. Dawn and Gabriella have been managing my investment property for more than 3 years. I now live overseas and I feel so comfortable knowing they are really looking after my interest, whilst at the same time always being fair and transparent with the tenants. Nothing is big enough job for those ladies and everytime I say ‘thank you – I am so grateful for what you do’, the reply is ‘It’s my job’. I really cannot recommend this wonderful team enough!”

Daniela WeatherillOverseas Landlord

“We are incredibly happy with the service that Dawn Sandoval Residential provide. They offer a personal but very professional service, and we feel secure and confident with their management which is key when letting out a property.”

Amy Facey

“Dawn Sandoval Residential and associates have managed several transactions on our behalf, and each time they have gone above and beyond our expectations. We trust the team highly, and I honestly couldn’t recommend them enough.”

Neil Chinniah

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Andrew Simmonds – Management Consultant

“Dawn Sandoval Residential offer a real personal service. Their response rates are excellent, and we have a sense that they care about our tenants and properties. We cannot recommend them highly enough.”

Cathy & Paul Betts

“Dawn Sandoval Residential have great insights into the property market in London and especially around Canary Wharf. They work very hard to understand their clients’ requirements, and we would highly recommend them.”

David & Ginette Marks