Dealing with BVD/Government Legal Dept and Treasury Solicitor - freehold reversion

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    Dealing with BVD/Government Legal Dept and Treasury Solicitor - freehold reversion


    Could anyone share any experience or knowledge of the process and timeline of how quickly the treasury solicitor acts upon making an offer to sell freehold back to leaseholders after the original freeholder had his company dissolved (10 years ago)

    There are only 2 leaseholders, one of which was the original freeholder. Both are 100% in agreement they want to buy back and share the freehold.

    All relevant documents and valuations have been submitted to the treasury solicitor department a week ago now but no communication has been received back since (previously emails were generally responded to within the day)

    Does the treasury solicitor instruct further solicitors? Or does he/they draw up their own offer? As it seems to be a straight forward and simple transaction, and the fact it is mentioned in BVC4 that they want to be as efficient as possible and keep costs to a minimum, it seems absurd we are hearing nothing.

    Many thanks for thoughts

    #2
    This appears to be a duplicate of https://forums.landlordzone.co.uk/fo...from-the-state

    Comment


      #3
      No. This is a separate and unique post. My comment on the above post you mention was because it was a similar situation. I apologise if I am not adhering to any rules I am not aware of.

      Comment

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      • Freehold transfer % question
        Kerbec
        I own one of 3 apartments in a building. the freehold of the property is owned / shared by the 3 apartment owners. One owner is selling his apartment and I have been asked by his conveyancer to sign the TR1 form to update the list of the freeholders. I noticed the buyer will have 2 names (presumably...
        10-06-2019, 03:21 AM
      • Reply to Freehold transfer % question
        Lawcruncher
        You're welcome.
        15-06-2019, 14:26 PM
      • Reply to Freehold transfer % question
        Kerbec
        great stuff. I had to read it a few times to understand it. thanks v much and really appreciate it....
        15-06-2019, 12:55 PM
      • Reply to Freehold transfer % question
        Lawcruncher
        When it comes to ownership of land by more than one person you have to distinguish two different things. One is the legal ownership and the other the equitable or beneficial ownership. In the case of registered land (and ignoring exceptions not relevant to this thread) the legal owners are the persons...
        14-06-2019, 20:51 PM
      • Reply to Freehold transfer % question
        Kerbec
        thank you so much for the detailed explanation. My neighbour(seller)'s solicitor has come back and said they would add additional clauses to section 10. While I am waiting for the revised TR1, just want to understand if what you put down in section 11 is absolutely necessary or just better/more complete...
        14-06-2019, 11:42 AM
      • Reply to Freehold transfer % question
        Kerbec
        Gordon999,

        yeah I agree. when I received the TR1 form from the seller's conveyancer, I thought it looked a bit funny (suspect it was prepared by a junor staff). After watching a vid from the land registry regarding the TR1, I realised it might not have been correctly filled in so started...
        14-06-2019, 11:25 AM
      • Reply to Freehold transfer % question
        Lawcruncher
        The transfer is way off.

        Each section should be completed as follows:

        1. The title number of the freehold property

        2. The description of the freehold property

        3. -

        4. The names of all the current freeholders i.e the registered proprietors...
        13-06-2019, 10:14 AM
      • Reply to Freehold transfer % question
        Gordon999
        I believe there should separate LR title numbers for one " leasehold title for sale flat" and one "freehold title for the entire building"

        (a) The TR1 form for transfer of leasehold title shows name of " Transferor" ( seller) and "Transferee"(buyer...
        13-06-2019, 00:42 AM
      • Reply to Freehold transfer % question
        Kerbec
        thx. I will make this suggestion and see what they say.
        11-06-2019, 10:21 AM
      • Reply to Freehold transfer % question
        leaseholder64
        You could also suggest that only one of the buyers becomes party to the freehold.
        11-06-2019, 09:50 AM
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