Lease and Lease Plans
All leasehold properties are created by preparing a lease. This is similar to a detailed contract and sets out all the terms relating to ownership of the lease. When selling a leasehold property the vendor will supply to the purchaser a copy of the leasehold title register, title plan and a copy of the lease itself. The lease will state which parts of the property are shared with others (the common parts), such as entrances, bin stores and car parking areas, and will usually have a detailed lease plan attached to it.