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Apr 5, 2010 · It could be a flat that uses the "Tyneside" or "Criss-Cross" scheme. What happens with this scheme is that you get a lease of the flat that you occupy and your freeholder has the lease of the other flat above or below yours and you own the freehold of their flat.
The following Property practice note provides comprehensive and up to date legal information on Residential flat schemes—criss-cross or crossover scheme.
What does this mean? A: Criss-cross leases are only found in Weston-super-Mare and in the north of the country and are often also referred to as “Tyneside Leases”. They are most common where a property that was originally a house has been divided into two separate flats.
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The criss-cross scheme is a scheme under which the reversion is held by the tenants, with a view to involving them in the operation of the development and the provision of services, and with a view to minimising the ongoing involvement of the developer.
Dec 19, 2019 · The property was split into two flats, held as a criss-cross lease. This means the leaseholder of the downstairs flat owned the freehold of the upstairs and the leaseholder of the upstairs owned the freehold of the downstairs flat.
A Tyneside Lease, otherwise known as the ‘criss-cross lease’ or ‘crossover lease’ is a scheme designed for developments where there are two maisonettes in the building. The key feature for a Tyneside Lease is that each owner of the respective maisonettes become the freeholder of the other.
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What is a sealed bid?
What is a crossover Tyneside lease?
If a number of buyers express interest in a particular property, an estate agent and the property seller may decide to go to sealed bids. Sealed bids is where potential buyers are invited to submit their offer in a sealed envelope by a particular date and time.