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I asked a general question about transferring the ownership of a house. The response was fast and provided me with the information I was looking for. Thank you.
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What is enfranchisement?
Enfranchisement allows the tenants of flats, acting together, to purchase the freehold to the building. The process can be complex and it is important to take specialist advice from a legal service provider before beginning the process.
Extending a lease?
If you would instead like to begin proceedings to extend your existing lease on a freehold property, a property solicitor can help you liaise with your landlord.
Assignment of lease
If you are becoming a new tenant/leaseholder in a commercial freehold property, a property solicitor can help you get in contact with the landlord and agree the terms.
Frequently asked questions
How do you qualify for enfranchisement?
To qualify for enfranchisement, both the premises and the tenants must meet certain requirements such as at least two-thirds of the flats in the block being let to tenants who qualify for enfranchisement.
How long does leasehold enfranchisement take?
Enfranchisement is a very complex process therefore it can take typically 6-12 months to complete, sometimes even a little longer.
Can the landlord refuse enfranchisement?
As long as a landlord is given the correct amount of notice of enfranchisement, they should not be able to refuse. A legal professional will help you ensure you qualify and are following procedure.
What are the costs of enfranchisement?
Collective enfranchisement involves many costs in addition to buying the freehold, such as valuation fees, solicitor fees (you must also pay the landlords legal fees) and potentially stamp duty.
Do I need a solicitor for enfranchisement?
It’s necessary to have a property solicitor for enfranchisement, as it is a very complex legal procedure with many steps that need the expertise of a legal professional.
