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 Leasehold Reform, Housing and Urban Development Act 1993 does not address this point and so it is a matter for agreement between the participating leaseholders. It is important to agree on this point prior to starting the process. You may wish to enter into a Participation Agreement to make sure all the participating leaseholders provide funds in the agreed proportions.
Buying the freehold can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this area.
More information you might find useful:
- Participation Agreements
- 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