RiffRaff Posted January 16, 2009 Share Posted January 16, 2009 I'm not a gambling man. Though I suppose I can spare a speculative tenner, as I like the cut of your jibe Think you might mean "jib" - Idiom "cut of one's jib" Informal one's appearance or way of dressing "Jibe" is n : an aggressive remark directed at a person like a missile and intended to have a telling effect; "his parting shot was `drop dead'"; "she threw shafts of sarcasm"; "she takes a dig at me every chance she gets" [syn: shot, shaft, slam, dig, barb, gibe] Oh....I don't know, though! Link to comment Share on other sites More sharing options...
L00b Posted January 16, 2009 Share Posted January 16, 2009 It's a simple play on words. Obviously lost on some Link to comment Share on other sites More sharing options...
Darbees Posted January 16, 2009 Share Posted January 16, 2009 Can't some of you people read? You don't win the apartment, you win a 125 year lease on it (and no, this is not the same as freehold/leasehold land when you buy a house or flat). In other words: the prize is a 'rent-paid-up-for-125-years occupancy contract' you get legal title to the lease, not to the flat the flat does not belong to you So you could only ever sell on the lease, but never the flat itself. Mug's game. That's normal with a flat/apartment and an annual management charge is paid to keep the communal part of the buildings in order. Still pretty cheap at £50 and who gives a monkeys about what will happen in 125yrs, you can still sell your lease and property on for the current market value. These sort of lotteries/raffles are commonplace in airports around the world wher you can win a flashy car. Far better odds than the national lottery and so what if the developers make a profit, that's what they are in it for. Link to comment Share on other sites More sharing options...
claireweb Posted January 16, 2009 Share Posted January 16, 2009 No Em1977 i dont think you are!! Im been stupid but cant you still sell a leasehold?? isnt that the same with every apartment, due to them been built on top each other on the same bit of land???? I have read the terms and conditions and all legal fees are paid too. ALSO which no of you have mentioned £20,000 of that "£180,000" is going to Sheffield Childrens Hospital Charity. Link to comment Share on other sites More sharing options...
mysticmeg Posted January 16, 2009 Share Posted January 16, 2009 I actually live in these apartments they are beautiful and I paid £118,00 for my one bed. Which I think it was great value. I own the apartment which is of course leasehold, but so is EVERY flat. So I will definately get a ticket cos if I win it im gonna just rent it out and sit on easy street for a while. By the way the odds are brilliant and even if I dont win Childrens hospital will benefit to the tune of 20k. No Em you are not stupid this is good !!!!!!!!! Mystic Link to comment Share on other sites More sharing options...
claireweb Posted January 16, 2009 Share Posted January 16, 2009 Loob what are you on about - you can sell the apartment!!! Link to comment Share on other sites More sharing options...
L00b Posted January 16, 2009 Share Posted January 16, 2009 Darbees & claireweb, I can't post in any clearer terms: YOU DO NOT WIN THE PROPERTY, ONLY THE RIGHT TO LIVE IN (OR RENT) IT FOR 125 YEARS. That's why the phrasing "leasehold interest in" the flat is used: in 125 years'time, the builders/promoters/whoever owns it then, can again decide what they want to do with it. Granted, it's a long time coming. However, in the meantime, you do not own it (therefore you cannot sell it). What you can sell is this right to live in it (until such time as the 125 years contract expires). Nothing to do with the land the flat sits on (which is indeed usually leasehold for flats, except perhaps for ground floor flats). I don't usually fatten pockets of builders/promoters when I choose to give to charities, btw Go to the site and have a look at the FAQ: 'can I rent the apartment?' Yes, etc, etc. Funnily enough, there's no 'can I sell the apartment?' QED Link to comment Share on other sites More sharing options...
jules1234 Posted January 16, 2009 Share Posted January 16, 2009 Not a good idea ,they prob can`t sell it so this is a way fo getting there money back. Link to comment Share on other sites More sharing options...
Darbees Posted January 16, 2009 Share Posted January 16, 2009 Darbees & claireweb, I can't post in any clearer terms: YOU DO NOT WIN THE PROPERTY, ONLY THE RIGHT TO LIVE IN (OR RENT) IT FOR 125 YEARS. That's why the phrasing "leasehold interest" (in the flat) is used: in 125 years'time, the builders/promoters/whoever owns it now, can again decide what they want to do with it. Granted, it's a long time coming. However, in the meantime, you do not own it (therefore you cannot sell it). What you can sell is this right to live in it (until such time as the 125 years contract expires). Nothing to do with the land the flat sits on (which is indeed usually leasehold for flats, except perhaps for ground floor flats). I don't usually fatten pockets of builders/promoters when I choose to give to charities, btw £50 for somewhere to live for 125 years and the opportunity to sell that right sounds like a good deal to me. On a leasehold interest the owner of the land will be legally obliged to renew the lease in 125 years but as I said above, who cares about what happens in 125 years anyway. Link to comment Share on other sites More sharing options...
blossom2 Posted January 16, 2009 Share Posted January 16, 2009 If i won it i would rent it out at a fair amount make my money that way. Wouldn't suprise me if the person who wins it does that anyway. good investment, making money... Link to comment Share on other sites More sharing options...
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