Purchasing the Freehold

Leasehold Property - FAQ

Buying the Freehold

Right of first refusal


Right to purchase the freehold of houses

 


Buying the freehold

Groups of tenants who satisfy conditions can get together and enforce the purchase of the freehold of a block, although some blocks of flats are excluded. This is called ‘Collective Enfranchisement’. There may be little or no advantage to exercising this right if the Freehold is owned by a Management Company where the tenants already own the shares of that company. Each case depends on its facts. Again the price is agreed between the parties or, if this is not possible, set by the LVT.

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Right of first refusal

Where the landlord proposes to sell his interest in the reversion of the building, he must offer it to the tenants first.

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Right to purhcase the freehold of houses

Under the Leasehold Reform Act 1967 and the LRA, it is possible to acquire the right to purchase the freehold of your house after the tenant has owned the property for a period of 2 years.

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