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Enfranchisement of residential property

This is a very complex area of law, the starting point of which is The Leasehold Reform Housing and Urban Development Act 1993 (as amended by the Commonhold and Leasehold Reform Act 2002). This Act allows lessees certain specific rights if they meet the required criteria (laid out by the Act) to acquire the freehold of the building in which their unit forms part.


In our opinion it is vital to ensure that you have a valuer and solicitor onboard from the outset. There is a substantial effort needed from the participating lessees and their professional advisors if any application made on the freeholder is to be successful.


The participating tenants are liable for the freeholder's and any other relevant landlord's reasonable professional fees from the moment they serve initial notice, whether they complete or not.


We therefore consider that a valuation at the earliest possible stage is done in order to discover the likely premium to acquire the freehold this allows lessees to be prepared and to have a budget in mind.


Please do not hestitate to contact Chris Baker to discuss your particular requirements.

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