Long Leasehold Questions

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Sticky: FAQ On Leasehold Property Issues-Your Answer Might Be Here by leaseholdanswers Started by leaseholdanswers, 29-05-2014, 08:36 AM	3 responses 9,555 views 0 likes	Last Post by Moderator2 17-06-2021, 21:40 PM
Agent charging 40% by steaming Started by steaming, 07-01-2020, 19:16 PM	9 responses 164 views 0 likes	Last Post by Macromia 11-01-2020, 05:20 AM
Leak issue from our flat, access to flat below by nickbude Started by nickbude, 07-01-2020, 07:50 AM	2 responses 92 views 0 likes	Last Post by Harwood 10-01-2020, 00:05 AM
MC charging fees for dealing with matters with flat, which pre-date my purchase. by f111 Started by f111, 09-01-2020, 13:09 PM	2 responses 80 views 0 likes	Last Post by MrSoffit 09-01-2020, 17:37 PM
Reasonable for Directors to refuse consent in a conservation area? by sarahbrowne Started by sarahbrowne, 08-01-2020, 17:39 PM	3 responses 84 views 0 likes	Last Post by sarahbrowne 09-01-2020, 15:40 PM
RTM - self management by Harlequin1 Started by Harlequin1, 08-01-2020, 20:02 PM	5 responses 120 views 0 likes	Last Post by Benzo 09-01-2020, 12:46 PM
Does RMC need Freeholder's permission? by HazeltonLane Started by HazeltonLane, 08-01-2020, 22:02 PM	2 responses 98 views 0 likes	Last Post by HazeltonLane 09-01-2020, 09:22 AM
Chancery St James or Chime Properties - Extending Lease by tonyshort Started by tonyshort, 08-01-2020, 12:43 PM	4 responses 1,496 views 0 likes	Last Post by Gordon999 08-01-2020, 15:47 PM
Right to manage - question regarding managing agent by Harlequin1 Started by Harlequin1, 19-12-2019, 04:15 AM	12 responses 179 views 0 likes	Last Post by MrSoffit 08-01-2020, 14:29 PM
Can RTM sole director make all decisions by Sahar Started by Sahar, 20-02-2019, 21:43 PM	11 responses 481 views 0 likes	Last Post by leaseholder64 07-01-2020, 23:10 PM
Ground rents and dead freeholders by bigalxyz Started by bigalxyz, 07-01-2020, 15:06 PM	3 responses 429 views 0 likes	Last Post by MrSoffit 07-01-2020, 16:21 PM

Reply to Residents Management Company Building insurance

by GordonClose

I presume then that the Freeholder has the right to arrange and pay for the insurance (as they do now) and the RMC has to pay regardless of whether the insurance is a reasonable cost - double the amount we obtained on other quotes for the same benefits....
- Channel: Long Leasehold Questions
17-08-2022, 13:15 PM
Residents Management Company Building insurance

by GordonClose

I am a Director of an RMC and the Freeholder insists it is their right to arrange the insurance. Have I the same right as an RTM to take over the arrangement of insurance?
- Channel: Long Leasehold Questions
15-08-2022, 14:26 PM
Reply to Residents Management Company Building insurance

by scot22

It states RMC will keep the building insured as directed. The Freeholder directs. RMC does as directed.
- Channel: Long Leasehold Questions
17-08-2022, 12:53 PM
Reply to Residents Management Company Building insurance

by GordonClose

Thank you for the replies. The RMC (not an RTM) was setup by the builders when the property was built so has always been in existence (since 1980). The insurance has always been arranged by the Freeholder and paid for by the RMC. The lease states that the RMC will keep the buildings insured as directed...
- Channel: Long Leasehold Questions
17-08-2022, 12:12 PM
Sale of Freehold - Tax to Pay

by divadee

Hi, I hope I can write this in a clear way that makes sense!

We bought a leaseholders flat in 2016, the next year we bought the limited company that held the freehold. This was done as no other leaseholder were interested in buying the freehold a few months prior to us buying our leasehold...
- Channel: Long Leasehold Questions
16-08-2022, 16:37 PM
Reply to Sale of Freehold - Tax to Pay

by Gordon999

The company accounts shows the share capital at £2, it was holding the property on behalf of you ( beneficiary ) .

Since you have received £14K and £12K from disposal = £26K , your capital gain will be £26K - £18K = £8K .

You are entitle to the annual cgt allowance...
- Channel: Long Leasehold Questions
17-08-2022, 10:50 AM
Right To Pass and Re-Pass (Not to Obstruct)

by LondonCalling

I am the owner/occupier of a leasehold first floor flat in a converted property consisting of two flats. The freeholder owns and is the occupier of the ground floor leasehold flat. There is a passageway/right of way from the road along the side of the building to my ground floor front door entrance....
- Channel: Long Leasehold Questions
16-08-2022, 16:26 PM
Reply to Right To Pass and Re-Pass (Not to Obstruct)

by Lawcruncher

Absolutely not! Both the right and covenant are clear. Ask the freeholder why he considers he should not be bound by the terms of the lease. If he insists he is not bound, suggest that in that case you are not bound by the terms of your lease either....
- Channel: Long Leasehold Questions
17-08-2022, 09:57 AM
Reply to Sale of Freehold - Tax to Pay

by divadee

Sydaton,

They are the accountants that the managing agents use. We have literally left it all up to them and have been hands off (unless there were issues with stuff that need authorising by us). Our managing agents are also company secretaries for the Ltd company that we own.
...
- Channel: Long Leasehold Questions
17-08-2022, 09:01 AM
Reply to Sale of Freehold - Tax to Pay

by Sydaton

divadee, you mention the company accountant in the first post but then mention that you were relying on your managing agents. Are they one and the same?

Where did the £14k paid for the lease extension go?
- Channel: Long Leasehold Questions
17-08-2022, 08:41 AM

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