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ALEP Step 3


Howmuch will it cost?


Instructavaluertoreportonthelikely purchase price–obtainingdetails of thebestandworst case scenariosand arecommendedfigure for the initial offer. Inadditionto thepurchase price,participatingtenantshave topaysomeofthefreeholder’s reasonable legaland valuation costs


ncosts..


As the only solicitor members of the Association of Leasehold Enfranchisement Practitioners in Devon&Cornwall we can help you with:


Step 4 Doing the paperwork


ParticipationAgreementThisneedstobecarefully drafted as it regulatestherelationshipduringtheprocessbetweenthe


participatingflatowners. Itwill setout,amongother things, eachflat owners’ contributionto priceandcosts.


RequestsforinformationOnoccasions youmayneedto request informationfromtheimmediate landlord ormanagingagentabout


superiorfreeholdorleaseholdinterests in thepremisesandtoascertain whetheranyoneelsehas ever servedanInitial (Section13)Notice.


NomineePurchaserUsuallyacompanywillneedtobe incorporatedto acquirethefreeholdonbehalf of theparticipant.


Initial(Section13)NoticeThiswillneedtobedraftedand signedbyallparticipants(50%+ofqualifyingflatowners). Attorneys, solicitors oragents cannot signontheirbehalf.


DoublecheckEnfranchisement has pitfallsfor theunwary. Itpays todoublecheck thenotice andtitle informationbeforeitis served.


The Property Group headed by Tim Polli contains many individuals ranked in Chambers UK and Legal 500 and includes the authors of Leasehold Enfranchisement Explained and Service Charges and Management: Law and Practice (2nd Edition).


Tanfield Chambers welcomes Direct Access instructions.


For further information or to instruct a barrister, contact: Joanne Meah, Property Clerk or Kevin Moore, Senior Clerk T: +44 (0) 20 7421 5300 or E: clerks@tanfieldchambers.co.uk


2-5 Warwick Court, London, WC1R 5DJ www.tanfieldchambers.co.uk


• Buying freeholds for investment • Buying and selling leasehold flats • Service charge disputes • Collective rights of leaseholders (enfranchisement, right to manage)


• Lease extensions • Variations of leases • Missing landlords • Tribunal representation


We offer competitive prices to deal with leasehold matters throughout the South West and nationwide.


14 Southernhay West, Exeter EX1 1PL 01392 258451 www.crosse.co.uk


Need help extending your lease?


SA Law’s enfranchisement specialists can help you maintain the value of your property or property portfolio


Find out more by visiting www.salaw.com/lease-extention or by calling our team in London on 020 7183 5683 or in Hertfordshire on 01727 798000


THEMAGAZINE FOR LEASEHOLD ADVICE


What are the benefits? Once you own the freehold of your block, if youwishyou cangrant yourselves long leases,rid yourselves of any obligation to pay ground rent and, perhapsmost important, take responsibility forthe wayyourblock ismanaged. Youcan appointyour ownpropertymanagerorevenopt to self-manage.


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