Whoever is responsible for the management of your building – whether it is the actual landlord or the leaseholders in the form of a resident management company or a right to manage company acting in the landlord’s place – there are significant duties and responsibilities under both the lease and legislation.
These responsibilities arise in three areas: covenants in the lease, statutory requirements and codes of management practice.
Collective Enfranchisement is the right under the Leasehold Reform Housing and Urban Development Act 1993 (as amended by the Commonhold and Leasehold Reform Act 2002) for a majority of qualifying lessees in a development to purchase of the freehold.
Seel & Co can advise on the procedure including:-
Should you require assistance then please call us to discuss your options.
When the sale of a property has been agreed a property transfer process is undertaken in which the vendor’s obligations and title are transferred to the new owner.
We can help and manage the transfer of properties in all the developments we manage including any outstanding charges are settled and deal with the formal receipt of Notices of Transfer and Mortgage, Deeds of Covenant, Land Registry consents and where necessary, the issue of new share or membership certificates to the purchasers.
In both instances the process is triggered when the value of the contract exceeds a certain threshold value. It is a transparency exercise intended to ensure lessees are kept informed of 1) plans to carry out works or enter into a contract; 2) details of the tenders received and 3) who is to be appointed.
Seel & Co advises our clients when the proposed works are likely to require it, notices are issued and feedback from lessees is forwarded to the client.
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