Sinking Fund/Exit Fund not collected

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Sinking Fund/Exit Fund not collected

    Hi

    In the leasehold lease it makes provision for the sinking fund to pay for major works. It also makes provision to add to this fund in way of an exit fund, an amount of the value of any sale/transfer of the long leases. During a FTT hearing (on many issues) where evidence of 10 years non collection was brought to the Tribunal by the leaseholder, the Tribunal said that although this was clearly stated in the lease it felt that the landlord had no responsibility to collect said exit fund but do so if it felt necessary. The subsequent tribunal decision was referred to appeal by the landlord on other matters but during the appeal the appeal judge questioned the original Tribunal decision that the Landlord did not have a duty to collect exit funds. The fund is over £40,000.00 understated as a consequence. What course of action does the leaseholder have now to refer back to the original Tribunal?

    #2
    Send your enquiry to the legal advisor at LEASE ( www.lease-advice.org )

    Comment


      #3
      Not sure that I understand your query fully. Could you provide some extracts from the lease, perhaps?

      Comment

      Latest Activity

      Collapse

      Working...
      X