Under statute, subject to meeting qualifying criteria, residential tenants have a right to purchase a share in the freehold of a building (often known as collective enfranchisement) or a right to a lease extension.
Leasehold enfranchisement is the process one goes through to either purchase a share of the freehold or to extend an existing residential lease.
Both processes can be complicated and expensive and come with a strict statutory timetable that must be adhered to by all parties. It is important to ascertain from the outset whether you meet the qualifying criteria and the likely costs should you decide to exercise any statutory right.
Our Real Estate team have extensive experience in advising on both aspects of Leasehold Enfranchisement and can support you at every stage – from advising on whether you meet the qualifying criteria, to preparing title reports to determine the party on whom any statutory notices should be served, to advising on when and how to serve said statutory notices, to actually negotiating and completing the Leasehold Enfranchisement documents. In addition, we have worked with and can recommend specialists in the field to assist with other areas, such as valuations and surveys.
We act for a variety of clients, from individual investors to corporate bodies, both incorporated in the UK and elsewhere.
Clients chose Fox Williams due to our pragmatic and commercial advice.