Collective Enfranchisement

Collective Enfranchisement

The Leasehold Reform Housing and Urban Development Act 1993 gives eligible tenants the right to acquire the freehold of their building thus becoming the landlord.

The Leasehold Reform Housing and Urban Development Act 1993 gives eligible tenants the right to acquire the freehold of their building thus becoming the landlord.

The process begins with selecting a ‘nominee purchaser’, appointing professional advisors and serving the appropriate notices.

In most cases the qualifying tenants set up a Company which becomes the nominated purchaser and it is then this newly formed Company which will eventually become the Landlord.

Once the nominated purchaser serves the initial notice the process is underway and careful planning and consideration should be given to each stage of the process.

Enfranchisement can be highly beneficial to some lessees and we would strongly advise discussing your individual situation with professionals such as a Solicitor and Managing Agent.

Further information about Collective Enfranchisement is available at the Leasehold Advisory Service

More information

Call Antony on 01226 770088 or email on antony@pp-mm.co.uk to find out more information or to discuss your options.