Q. I have seen a beautiful cottage in the countryside which I am definitely considering buying but the agents details mention the property has a ‘flying freehold’. Firstly what is this and is there likely to be any problems in the future with this type of property?
A. A flying freehold exists where a part of one property extends physically in, over, or under a neighbouring property. The two buildings then depend upon each other for support. Where each property is held as a freehold, the flying element becomes a flying freehold. The question your conveyancing solicitor must ask in respect to this is;
‘What happens if the adjoining property is not looked after and falls into disrepair? Are there adequate rights of support and provisions for insurance? Is there a right to enter the property in order to maintain and repair the part subject to the flying freehold?
If you’re planning on purchasing or for that matter selling a property with a flying freehold, your Conveyancing Solicitor may have to do a bit more work which may increase your legal fees somewhat, your Solicitor should get the Vendors’ solicitor to obtain an Indemnity Insurance Quote- this will cover you when you buy, and when you sell on Indemnity insurance is a policy to protect a purchaser from the possibility of third party claims arising from shortcomings in the conveyance. These can often relate to ownership, lost documents, access, poorly worded legal documents or perhaps a restrictive covenant that imposes specific restrictions. So it’s definitely worth enforcing when a flying freehold property is involved.