| Leasehold Enranchisement |
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Leasehold enfranchisement is the legal term for the right (first granted in 1993 and expanded since) for the majority of residential tenants or leaseholders in a building to buy, as of right, the freehold from their landlord.
There are certain conditions that have to be satisfied to qualify. However,
- If your building contains no commercial or retail elements or if those elements are less than 25% of the whole,
- At least two thirds of the building is let on leases with at least 21 years left to run and
- Leaseholders representing a majority of the flats in the building want to participate
then you probable qualify.
Usually the only argument with the landlord is over the price to be paid. That is why this Firm works in close collaboration with a Surveyor experienced in this area, Mr Michael Stapleton senior partner of Michael Stapleton & Company. www.mikestapleton.net
A very useful and informative organisation is the Leasehold Advisory Service whose web site contains a detailed summary of leasehold enfranchisement and associated areas. www.lease-advice.org.
Mr Dann is a member of the Association of Leasehold Enfranchisement Practioners.
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