Buying The Freehold Interest In Your Building With Other Flat-Owners (Leasehold Reform, Housing And Urban Development Act 1993)
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Buying The Freehold Interest In Your Building With Other Flat-Owners (Leasehold Reform, Housing And Urban Development Act 1993)
This note sets out the procedure following the changes introduced by the Commonhold and Leasehold Reform Act 2002.
Is collective enfranchisement possible? As a preliminary, you need to know whether you and your fellow flatowners qualify so as to be able to act together to collectively enfranchise your block, ie to go ahead with a collective claim for the freehold. First, you need to check whether the building qualifies. If it is to qualify: it must be 'self-contained' no more than 25% of the building may be in non-residential use it must contain two or more flats owned by 'qualifying tenants' (see below) at least two thirds of the total number of flats in the building must be held by 'qualifying tenants'. It should be noted that if there is a 'resident landlord' in the building, it may not qualify. A 'qualifying tenant' is a flatowner who holds a lease granted for a term of over 21 years. The next step is to check whether those te...See the full content of this document
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