Missing joint freeholder in 2x flat block, able to to gain share of freehold?

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    #1

    Missing joint freeholder in 2x flat block, able to to gain share of freehold?

    Hi, quite an unusual situation I'm in, and not sure of the options available to me.

    There are two flats in my building, I own the lease to one, and one of the two freeholders owns the other.

    We are both encountering issues with selling/lease extensions as the second freeholder is absent (a recent tracing agent turned up nothing), and his address on Land Registry/deed is down as my flat...

    The 'existing' freeholder who owns the other leasehold is happy to work with me to find a solution to get the missing FH removed from the title.

    Am I right in thinking myself and the existing freeholder can apply for a vesting order to buy the freehold as 100% of the leaseholders? Is this possible bearing in mind the other leaseholder is also a joint freeholder?

    Thanks in advance
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    #2
    I suggest you send an email enquiry to the Legal Advisor at LEASE ( www.lease-advice.org )

    Comment

      #3
      Unless you are in a highly unusual situation there will only be ONE freeholder (which might be jointly owned). Not clear why you think an owner of the freehold can be deprived of his asset? They need to be found.

      Comment

        #4
        Originally posted by AndrewDod View Post
        Unless you are in a highly unusual situation there will only be ONE freeholder (which might be jointly owned). Not clear why you think an owner of the freehold can be deprived of his asset? They need to be found.
        I understand that the two freeholders are seen as one legal entity, but surely if one is proved to be absent then his title can be changed to me via court application with the agreement of the other, existing freeholder? i found the below which appears to be exactly the situation I am in

        https://forums.landlordzone.co.uk/fo...der-is-missing

        Comment

          #5
          I suggest you take your problem to the Court Manager at your local Magistrates Court for assistance.

          Comment

            #6
            It may be possible for you and the other leaseholder to make an enfranchisement claim. As one party of the freehold is absent it is likely if that remains the case you will need to apply for a vesting order at the appropriate point in the process.

            Funds for the premium will be paid to the court of which part will be retained by the court for the absent party in relation to current-freehold ownership.

            The issue will be whether the other leaseholder is prepared to do this given there will be costs involved. However, you may be able to negotiate this.

            Is the freehold held by the individuals jointly or did they set up a company to hold the freehold?

            What is the unexpired term of the leases? What is the value of the flats with lease extensions?

            Comment

              #7
              Thanks vmart...the other leaseholder/freeholder is desperate to sell her flat, as well and the part of the freehold. She is unable to sell/extend lease/transfer title without the missing freeholder, as there was no Declaration of Trust or similar in place. There is no company, just two individuals. We are due to meet this week to discuss as we both want to sell and move on, so luckily I have full co-operation.

              The leases are between 90-100 years on both flats, the lease is so old that the ground rent is '15 Guineas' , however never collected by anyone. The value of the flats is about £300K-£320k each.

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