Selling your freehold (enfranchisement)
Altermans Solictors has been advising freeholders on the sale of freehold property since 2002, and its founding partner, Gabriel Alterman, has been doing so since 1998.
In most cases, where 50 per cent of your leaseholders agree and have valid leases, they have the right to come together to acquire the freehold of your property.
You would usually receive a statutory notice from their solicitor, and it is important that you seek our advice immediately. There are strict timeframes and deadlines to adhere to and failure to do so can have costly implications.
Whether your property portfolio is in Prime Central London or across the UK, our enfranchisement advisory service for freeholders includes:
- checking the leaseholders’ eligibility;
- considering how best to deal with non-participating tenants;
- verifying whether any notices have been served correctly;
- addressing issues where the tenant is in arrears, or where there is a possession order;
- ensuring the strict deadlines are met;
- identifying whether there are any grounds for a challenge.
Different strategies are required, depending on whether 100 per cent of the tenants participate in the purchase or not. Where there are tenants that do not wish to participate in the enfranchisement, this will have an impact on the amount payable.
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