Understanding Your Lease

  Term  

This is the term used when you sell your flat and with it the lease. The new leaseholder is the assignee. 

This is a document that sets rules for an organisation such as a residents’ association. 

This is the process of asking for other people’s opinions. Where possible we will consult you about anything we do that affects you.  

A covenant is a promise to take responsibility. The lease states what you are responsible for during your ownership of the property. 

That part of the block included in the lease you have bought.
This will include your flat, the common parts, any garage area and the landscaped area which form part of your block. Your lease will include a plan showing the curtilage. It will show which parts of the building are yours and which parts you share with other people.  

The block, any out-buildings and any land associated with the block.  

This means that the lease is terminated, and we as freeholder can lawfully repossess the property, require you to vacate it and dispose of it with vacant possession. This would only take place after significant breaches of the covenants in your lease and following a decision by a Leasehold Valuation Tribunal or a court. 

Absolute ownership of property and the land on which it stands. 

Doing more work to a property than is required to satisfy an obligation to repair. 

This is a person or organisation that owns the freehold (or long-term lease) of a property and grants a tenancy or lease to a tenant or leaseholder. 

The lease is a contract that explains our responsibility to you, and your responsibility to us. 

An ownership of a property in a building that comprises other flats/maisonettes and is subject to the payment of service charges and ground rent for a set period. 

This is the person who has been granted the lease by the landlord and is, strictly, known as a tenant. 

This means the same as leaseholder. 

This is a bank or building society that has lent you money so that you can buy a property.