In certain circumstances, under the Leasehold Reform Act (as amended) 1993, leaseholders have the right to compel the freehold owner of the property to sell them the freehold. Collective enfranchisements give the right of ownership to groups of lessees so that they may have control of the building themselves and are then free to make collective decisions about the running of the property.
There are, of course, eligibility criteria to meet before a collective enfranchisement can take place and it is advisable to have funds ready for the purchase before making a legal agreement through a residential conveyancing solicitor.
An experienced property solicitor will be able to:
It is essential that lessees seek out the most experienced conveyancing solicitor possible for this action as, without the necessary expertise and property law knowledge, many collective enfranchisement proposals fail.
The residential conveyancing solicitors at George Ide LLP have many years’ experience dealing with all issues relating to freehold and leasehold ownership of multi-residence buildings and can offer you a knowledgeable client-focused service to ensure your collective enfranchisement action has the greatest chance of success.
If you would like to speak to one of our property law experts why not call George Ide in Chichester or Bognor Regis and take the first steps in becoming the collectively enfranchised freehold owner of your building.
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