Pros and Cons of Buying the Freehold
By Nicholas Kissen, Senior Legal Adviser This article originally appeared in Flat Living magazine, Winter 2011 It was not until...
The leaseholders may have a right to acquire the freehold under provisions of the Leasehold Reform, Housing and Urban Development Act 1993. If the leaseholders qualify under the 1993 Act and follow the correct procedure they can force you to sell them the freehold.
Alternatively, you can negotiate to sell the freehold outside the provisions of the 1993 Act.
Buying the freehold can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this area. See the list of Leasehold Practitioners.
More information you might find useful:
- Do I qualify for collective enfranchisement under the Leasehold Reform, Housing and Urban Development Act 1993?
- How can I buy the freehold of my building?
- Collective Enfranchisement – Getting Started
- More Frequently Asked Questions on Buying the Freehold of Flats
Still not found the answer?
Contact LEASE to have your enquiry dealt with by one of our experienced advisers