Freehold Acquisitions

Since 1993 it has been a right of 50% or more flat owners in a building to compel the sale of the freehold interest to a company owned by the participating flat owners. The legislation evoking the right to acquire the freehold is a minefield. We have expert knowledge in this area and are members of the Association of Leasehold Enfranchisement Practitioners.  We act for both landlords and tenants.

For flat owners we can advise in all aspects of the process including:

• setting up the company required to purchase the freehold;

• drafting an agreement between the participating flat owners detailing such matters as their contributions towards the premium payable to the freeholder;

• drafting the Section 13 Notice required to evoke the right to acquire the freehold;

• liaising with your surveyor and the other side’s solicitor regarding the terms of the acquisition;

• making an application to the Leasehold Valuation Tribunal in the unlikely event of a dispute; and dealing with the transfer of the freehold from the existing freeholder to the company formed by the flat owners.

For landlords we can check to see that the flat owners are entitled to evoke their right and have correctly followed the statutory procedure and can negotiate a settlement on your behalf.

Comptons Solicitors
90-92 Parkway
London
NW1 7AN

Tel:  020 7485 0888
Fax: 020 7485 1145
DX 57057 CAMDEN TOWN
Email: advice@comptons.co.uk