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Flying freehold is a form of co-ownership: A larger property is divided into individual apartments, generally residential units, which as in any building in multiple occupation share certain areas (entry halls, stairways, lifts, gardens, yards, etc.) and services (drainage, electricity, etc.).
Freehold property can be defined as any estate which is “free from hold” of any entity besides the owner. Hence, the owner of such an estate enjoys free ownership for perpetuity and can use the land for any purposes subject to Jersey law and regulation.
Share transfer property is a form of co-ownership: A larger property is divided into individual apartments, generally residential units, which share certain areas (entry halls, stairways, lifts, gardens, yards, etc.) and services (drainage, electricity, etc.).
How long will the process take?
In usual course you should aim at around 1 month from instruction. However it will depend upon a number of factors such as your lender approving your loan and the surveyor.
Do I have to attend the Royal Court to pass contract?
If you are buying a freehold or flying freehold you will be required to attend Royal Court. If you are buying a share transfer you will not need to attend court.
“…you made it all a lot easier.”
I just wanted to say thank you, Lindsey, for dealing with everything so promptly to enable completion to take place. It certainly wasn’t an entirely smooth process but you made it all a lot easier.
“…by far the best”
I would like to thank your lawyers firm for all the services provided. I would also like to let you know I have used 3 to 4 lawyers firm in the island and yours is by far the best.