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<DIV
style='FONT-SIZE: small; TEXT-DECORATION: none; FONT-FAMILY: "Calibri"; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal; DISPLAY: inline'>That
is correct. </DIV></DIV>
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<DIV
style='FONT-SIZE: small; TEXT-DECORATION: none; FONT-FAMILY: "Calibri"; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal; DISPLAY: inline'> </DIV>
<DIV
style='FONT-SIZE: small; TEXT-DECORATION: none; FONT-FAMILY: "Calibri"; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal; DISPLAY: inline'> </DIV></DIV>
<DIV>
<DIV
style='FONT-SIZE: small; TEXT-DECORATION: none; FONT-FAMILY: "Calibri"; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal; DISPLAY: inline'>Not
long before I bought my flat in London in the last century, the tenants (in my
block of 185 flats) bought the freehold. (Not sure if I’ve got all this
100% correct.) Of course, they couldn’t share the freehold in 185
parts</DIV>
<DIV
style='FONT-SIZE: small; TEXT-DECORATION: none; FONT-FAMILY: "Calibri"; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal; DISPLAY: inline'>,
so a co. was set up, in which the tenants have the shares (some flats are bigger
than others – is that relevant?). And the co. has given us all 999-year
leases. Now some (a very few) tenants didn’t want to buy their share of
the freehold, so their flats belong to the co., and, as the leases fall in, we
can sell the flats for whatever we can get (leasehold, of course). I can’t
remember where the money goes; I never see any. I hope this is
clear.</DIV></DIV>
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<DIV
style='FONT-SIZE: small; TEXT-DECORATION: none; FONT-FAMILY: "Calibri"; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal; DISPLAY: inline'> </DIV></DIV>
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<DIV>
<DIV style="TEXT-DECORATION: ; FONT-FAMILY: ; COLOR: ; DISPLAY: inline">However,
the “Ground Rent Scandal” only started this century:</DIV></DIV>
<DIV>
<DIV style="TEXT-DECORATION: ; FONT-FAMILY: ; COLOR: ; DISPLAY: inline"><A
style="href: "
href="https://www.theguardian.com/money/2017/jul/25/leasehold-houses-and-the-ground-rent-scandal-all-you-need-to-know"
https: www.theguardian.com money 2017 jul 25
leasehold-houses-and-the-ground-rent-scandal-all-you-need-to-know??><FONT
style="COLOR: #0066cc"
face="Times New Roman">https://www.theguardian.com/money/2017/jul/25/leasehold-houses-and-the-ground-rent-scandal-all-you-need-to-know</FONT></A></DIV></DIV>
<DIV>
<DIV style="TEXT-DECORATION: ; FONT-FAMILY: ; COLOR: ; DISPLAY: inline">It is a
scandal that people don’t understand simple math(s).</DIV></DIV></DIV>
<DIV>
<DIV
style='FONT-SIZE: small; TEXT-DECORATION: none; FONT-FAMILY: "Calibri"; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal; DISPLAY: inline'> </DIV></DIV>
<DIV>
<DIV
style='FONT-SIZE: small; TEXT-DECORATION: none; FONT-FAMILY: "Calibri"; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal; DISPLAY: inline'>Stuart</DIV></DIV>
<DIV>
<DIV
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<DIV style="FONT: 10pt tahoma">
<DIV style="BACKGROUND: #f5f5f5">
<DIV style="font-color: black"><B>From:</B> <A title=vwoolf@lists.osu.edu>Mark
Hussey via Vwoolf</A> </DIV>
<DIV><B>Sent:</B> Wednesday, July 15, 2020 2:44 PM</DIV>
<DIV><B>To:</B> <A title=vwoolf@lists.service.ohio-state.edu>'Woolf
Listserv'</A> </DIV>
<DIV><B>Subject:</B> Re: [Vwoolf] The Ramsays in Skye - owning or
renting?</DIV></DIV></DIV>
<DIV> </DIV></DIV>
<DIV
style='FONT-SIZE: small; TEXT-DECORATION: none; FONT-FAMILY: "Calibri"; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal; DISPLAY: inline'>
<DIV class=WordSection1>
<P class=MsoNormal><SPAN
style='FONT-SIZE: 12pt; FONT-FAMILY: "Times New Roman",serif'>A friend in London
once explained to me what a “leasehold” meant—but I’ve forgotten the details. It
seems peculiar to the UK (or perhaps just England?), where you “own” a flat in a
building but you still have to pay some feudal lord in (say) Cornwall) a nominal
rent for the land on which the building in which your flat is sits. Is
that right? </SPAN><SPAN
style='FONT-SIZE: 12pt; FONT-FAMILY: "Segoe UI Emoji",sans-serif'>😉</SPAN><SPAN
style='FONT-SIZE: 12pt; FONT-FAMILY: "Times New Roman",serif'><o:p></o:p></SPAN></P>
<P class=MsoNormal><SPAN
style='FONT-SIZE: 12pt; FONT-FAMILY: "Times New Roman",serif'><o:p></o:p></SPAN> </P>
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<P class=MsoNormal><B>From:</B> Vwoolf
<vwoolf-bounces+mhussey=verizon.net@lists.osu.edu> <B>On Behalf Of
</B>Stuart N. Clarke via Vwoolf<BR><B>Sent:</B> Wednesday, July 15, 2020 7:34
AM<BR><B>To:</B> vwoolf@lists.osu.edu<BR><B>Subject:</B> [Vwoolf] The Ramsays in
Skye - owning or renting?<o:p></o:p></P></DIV></DIV>
<P class=MsoNormal><o:p></o:p> </P>
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<DIV>
<DIV>
<P class=MsoNormal><SPAN style="FONT-SIZE: 12pt; COLOR: black">As I was saying,
“I was only talking about England & Wales – not even Scotland – far less the
US. (Perhaps I should have been talking about Scotland – which I’m not
equipped to do – since the Ramsays’ house is in
Skye!)”.<o:p></o:p></SPAN></P></DIV>
<DIV>
<P class=MsoNormal><SPAN
style="FONT-SIZE: 12pt; COLOR: black"> <o:p></o:p></SPAN></P></DIV>
<DIV>
<P class=MsoNormal><SPAN style="FONT-SIZE: 12pt; COLOR: black">One of my
favourite Scots words is “feu” = <o:p></o:p></SPAN></P></DIV>
<H3 id=eid4381940
style="MARGIN-BOTTOM: 11.25pt; BACKGROUND: white; WORD-SPACING: 0px; MARGIN-LEFT: 0in; ORPHANS: 2; WIDOWS: 2; MARGIN-RIGHT: 0in; mso-margin-top-alt: 0in; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"><SPAN
style='FONT-SIZE: 15pt; FONT-FAMILY: "Georgia",serif; FONT-WEIGHT: normal; COLOR: #333333'>in
modern use, a perpetual lease for a fixed rent</SPAN><SPAN
style="COLOR: black"><o:p></o:p></SPAN></H3>
<DIV>
<DIV>
<DIV>
<P class=MsoNormal><SPAN style="FONT-SIZE: 12pt; COLOR: black">Difficult for the
outsider to grasp how renting perpetually is different *in practice* from
owning. Surely after x years the rent will = 0? Even less than
“</SPAN><SPAN
style='FONT-SIZE: 16pt; FONT-FAMILY: "Times New Roman",serif; COLOR: black'>twopence
half-penny”.</SPAN><SPAN
style='FONT-SIZE: 10pt; FONT-FAMILY: "Tahoma",sans-serif; COLOR: black'><o:p></o:p></SPAN></P></DIV>
<DIV>
<P class=MsoNormal><SPAN
style='FONT-SIZE: 10pt; FONT-FAMILY: "Tahoma",sans-serif; COLOR: black'> <o:p></o:p></SPAN></P></DIV>
<DIV>
<P class=MsoNormal><SPAN
style="FONT-SIZE: 12pt; COLOR: black">Stuart</SPAN><SPAN
style='FONT-SIZE: 10pt; FONT-FAMILY: "Tahoma",sans-serif; COLOR: black'><o:p></o:p></SPAN></P></DIV>
<DIV>
<P class=MsoNormal><SPAN style="FONT-SIZE: 12pt; COLOR: black">(Day
120)</SPAN><SPAN
style='FONT-SIZE: 10pt; FONT-FAMILY: "Tahoma",sans-serif; COLOR: black'><o:p></o:p></SPAN></P></DIV>
<DIV>
<P class=MsoNormal><SPAN
style='FONT-SIZE: 10pt; FONT-FAMILY: "Tahoma",sans-serif; COLOR: black'> <o:p></o:p></SPAN></P></DIV>
<DIV>
<P class=MsoNormal><SPAN
style='FONT-SIZE: 10pt; FONT-FAMILY: "Tahoma",sans-serif; COLOR: black'> <o:p></o:p></SPAN></P></DIV>
<P class=MsoNormal><SPAN
style='FONT-SIZE: 10pt; FONT-FAMILY: "Tahoma",sans-serif; COLOR: black'> <o:p></o:p></SPAN></P></DIV></DIV></DIV></DIV></DIV>
<P>
<HR>
_______________________________________________<BR>Vwoolf mailing
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