Freehold purchase of a block of 4 flats

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  • Lawcruncher
    replied
    Originally posted by bullybantam View Post
    Can I throw in a "Baldrick" question?

    What's the difference between buying the freehold & buying the ground rents?
    Usually none. However, you could have a situation where A grants a long lease of a block to B, and B sublets the individual flats on long leases reserving a ground rent.

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  • bullybantam
    replied
    Can I throw in a "Baldrick" question?

    What's the difference between buying the freehold & buying the ground rents?

    Leave a comment:


  • quarterday
    replied
    conveyance of reversion of one flat only

    right of first refusal would not apply. same if the freeholder conveyed reversion of, say a lock up garage held on a parallel lease.........

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  • Lawcruncher
    replied
    Originally posted by jeffrey View Post
    True, but s.1(2)(b) disapplies the Act if the part-building contains only one flat!
    Careful consideration of the wording suggests you may well be right. I took it to mean that the right does not apply where the building of which the premises to be disposed form part only contains one flat.

    The wording would seem to allow individual flats to be disposed of separately to different associated companies.

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  • jeffrey
    replied
    Originally posted by Lawcruncher View Post
    It seems to does. See section 1 (2) (a) of the Landlord and Tenant Act 1987:

    (2) Subject to subsections (3) and (4), this Part applies to premises if—
    (a) they consist of the whole or part of a building
    True, but s.1(2)(b) disapplies the Act if the part-building contains only one flat!

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  • Lawcruncher
    replied
    Originally posted by jeffrey View Post
    I do not think that RFR applies if the purchase is of only one flat's [severed] f/r.
    It seems to does. See section 1 (2) (a) of the Landlord and Tenant Act 1987:

    (2) Subject to subsections (3) and (4), this Part applies to premises if—
    (a) they consist of the whole or part of a building

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  • jeffrey
    replied
    So read LTA 1987, please. It should say.

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  • Mags25
    replied
    freehold purchase of a block of 4 flats

    Thank you Jeffrey

    You say you think RFR may not apply, as only one flat was severed, But I need to know if it is a fact RFR did not apply.

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  • jeffrey
    replied
    I do not think that RFR applies if the purchase is of only one flat's [severed] f/r.

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  • Mags25
    replied
    freehold purchase of a block of 4 flats

    Our landlord has owned the freehold in 3 of the 4 flats in our block for 21 years, but purchased the separate freehold in the 4TH flat from the former leasehold owner who did not inform any of her 3 neighbours about the transaction. (She owned the separate freehold in her leasehold flat for 12 years)

    We would all have purchased the freehold title from the former leasehold owner if we had know about the transaction.

    Please advise.

    Leave a comment:


  • Poppy
    replied
    I think that the reason for the lack of response is because most leaseholders who rent out their property (and therefore become landlords and post on this forum) do not actually own the freehold of the building. They therefore are not always aware of the rights and responsibilities of the freeholder.

    I have owned the freehold of a block of flats (which is actually a house converted into 3 flats) for 10 years. I make it my business to know both my rights as a freeholder and my lessees' rights.

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  • Jacob Oliver
    replied
    Freehod purchase of a block of four flats

    Poppy I am sure that you are right it would not be helpful if I tried to cut out the other leaseholder

    I have also learnt that the present Freeholder has by "law" to inform the other leasholders about this matter and to give them an opprtunity to share this purchase.

    Poppy thanks for the website address - I have to say that I am surprised that that this fairly important subject did not create more response - perhaps it has been all said before.

    Jacob OLiver

    Leave a comment:


  • Poppy
    replied
    Try the Leasehold Advisory Service website www.lease-advice.org. Go to their link freehold purchase for flats www.lease-advice.org/cegsframe.htm. You should find better answers there.

    I don't recommend that you try to do a private deal with the freeholder whilst (intentionally?) cutting out the other lessee. It's almost certainly a contravention of some housing act or other...

    Leave a comment:


  • Jacob Oliver
    replied
    Freehod purchase of a block of four flats

    Poppy thanks for your comments

    Yes a inclusive price has been agreed for all four flats but your reply says that the Freeholder "probally" has to offer the Freehold to the "other party"

    Who knows please does probally mean they "must" offer to the "other party"

    And please comments to my other questions

    To Paul F - I am sure that you will know the answer to these queries

    Jacob Oliver

    Leave a comment:


  • Poppy
    replied
    Yes, you are able to purchase the freehold. Is the freeholder selling the freehold? If the freeholder wished to dispose of the freehold, they would probably have to offer it to all of his lessees for first refusal.

    Leave a comment:

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