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ALEP


BuYYour freehold


hOW TO...


Step 1


So you want to buy your freehold? Tomake the


process a little less complex, here is our at-a-glance-guide to the purchase process


IN ASSOCIATION WITH


Get the group together


Checkhowmanypeopleare interestedandprepared to fundcosts, at leastforan initial investigationas to entitlementand valuation.


Step 5 Startthe


5 Portman Square London W1H 6NT www.seddons.co.uk


ball rolling ServeInitialNoticeThismustbeserved


onthe landlordandanyintermediate landlord interest alongwithacolouredplanshowingall freehold interests tobeacquired(including,eg, gardens)andanyareaswherethefreeholder


needstogrant rights aspart of thetransfer. No plan=invalidNotice.


Step 6


Thelandlord’s response


CounternoticeThe landlord serves a Counternotice not less than twomonths after service


of theInitialNoticewhichsetsout his termsforthe sale of thefreeholdtothe flatowners. There isastatutory twomonth cooling off period following service of the landlord’s Counternotice designedtoencourage the


parties to negotiate if the initial offer is unacceptable. ProtectyourclaimWithin sixmonthsofthe


Counternotice,iftheterms(includingpriceand/or termsof transferand/oranyleasebacks) cannot beagreed, either sidecanapply to theFirst Tier Tribunal (PropertyChamber).The Tribunal issues directions forthe conductofthecaseupto thehearing.


LandlordsInvestigationLandlord investigates validityof tenants’ claim;instructsownvaluerto inspectandreport.


Step Takingownership 7


AgreementTermsof transfer of freehold areagreedeitherbynegotiationbeforethe hearingordeterminedfollowingahearingby theTribunal.


TransferofthefreeholdThe


freehold ofablock is transferred usually within twomonths of agreement or determination. If not, thereisa furthertwomonth windowto applytothe County Courtto potentially protectthe claim.


Jargon busting


Landlord =freeholder/ headlessee


Tenant = flat owner/ leaseholder


Enfranchisement=the collective right to buy your freehold


Your right to buy Underthe Leasehold


Reform Housing and Urban Development Act 1993 you have the right to buy the freehold of your block provided both thebuildingand your fellow residentsmeet certain criteria.


Step 2


Areyou allowed to buy


the freehold?


Instructsolicitorstoundertake aninitial investigationofthe buildingandqualifyingcriteria to seewhether, asagroup, youareentitledto enfranchise.


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Issue 16 Flat Living


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