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[sgclacy]

There are better adjectives you could use...

[sgclacy]

If there are two flats in the block including yours, you do not need to serve a Section 5 Notice for the following reasons

1) You have decided not to sell collectively, so it is impossible for the other flat (who feels aggrieved) to represent more than 50%

2) A section 5 notice...

[sgclacy]

Offer to have a ground rent of £200 per annum rising or falling in line with the RPI every 10 years and a premium of £24,000

[sgclacy]

If they refuse to pay you would have to take the matter through to the county court which would be disproportionate in terms of your time to the sum involved...

[sgclacy]

But what would happen if the sale falls through because perhaps the vendor pulls out...

[sgclacy]

What the clause is stating is that a surrender of a tenancy and the grant of an option or right of preemption is a disposal except where it arises under the terms of a will or as the result of intestacy

if all transfers under a will were exempt large swaths of that section 4 would become...

[sgclacy]

I do not believe that to be correct

If the transfer is made pursuant to section 2 of the Inheritance (Provision for Family and Dependants) Act 1975 then it is exempt and a transfer to a spouse is exempt - and rather generously a transfer made between couples who live as husband and wife...

[sgclacy]

I think it unlikely that new purchasers will pay to join the freehold - the lease term is 999 years and the fact it is owned by some of the residents will put their mind at rest and will always think “tomorrow is another day “ and have no passion to buy in

therefore those founder members...

[sgclacy]

ram,

In all fairness I don’t think that JDG is trying any form of scam.

The problem they face is that there is a low take up rate because the leases are so very long and to raise the funds the participators need to put up more than a 1/80 or so share and in so doing quite...

[sgclacy]

In this case we are told that those who are participating is relatively low - so a participator may well be in this case be paying 2 to 2.5 times what they would pay if all took part

the idea when other decide later to join up that their funds go into a reserve I doubt very much would be...

[sgclacy]

You could issue two classes of shares, Let suppose the purchase price is £120k and there are 80 flats and 30 decide to participate putting up £4k each

The 30 who put up £4,000 each get an A share worth £1,500 and a B share worth £2,500. The "A" share will enable the holder...

[sgclacy]

A share in an unquoted company would be of very little interest other than to other shareholders

alternatively why not borrow against the security of the freehold to raise the money from the non participators - there are various institutions that would lend at around 3.75% to 4.5% interest...

[sgclacy]

It would be better to grant an overriding lease over the non participators and then sell that lease - buyers would pay a better price , also selling shares is difficult as the broker has to be regulated under a completely different set of rules

the generic term for the buyers of such investments...

[sgclacy]

As you will be holding it as tenants in common you can at a later date sell that interest on although you would need to serve section 5

if you did the overriding lease route it is a more known type of investment and ground rent buyers will pay a better price for an overriding lease rather...

[sgclacy]

Property by property basis

PRivate message me and I will send over a deed I was involved with

[sgclacy]

However, as I am now selling my flat with a share of the freehold but keeping the leasehold flat,

So am I right in thinking you are going to grant yourself an overriding lease over the short flat as we discussed in your other threads.

If that is the case can set up a management...

[sgclacy]

Many lease require the notice to be served on the landlords solicitor

My own solicitor advised that if they receipt the notice on behalf of the freeholder they charge £150 plus vat as they have to set up a file on their system get the lease check there are no disputes and gain assurances...

[sgclacy]

A mortgagee would normally pay any arrears if service charge (if served with a copy of any forfeiture proceedings ) the fear may be that they are not given sufficient notice - I have seen this requested many times - to resolve this a deed of variation where the landlord agrees to give much longer notice...

[sgclacy]

You are right, except it is the other way around

LPE1 is requested by the lessee's solicitor of the freehold and the lessee pays the fee. It is for the vendor to get together the information from the freeholder to present to the purchaser...

[sgclacy]

In compiling the form you must remember that reliance will be placed on the answers and accordingly this comes with responsibility and therefore the fee you seek must reflect the responsibility attaching to it. Managing agents charge between £200 to £350 for supplying the information...