We have an expertise in dealing with lease extensions and collective purchase of a Freehold by tenants.
The right for a residential tenant to extend his lease or purchase the Freehold is enshrined in two pieces of legislation; The Leasehold Reform Act 1967 (if the property is a house) and the Leasehold Reform, Housing and Urban Development Act 1993 (if the property is a flat). Essentially if the tenant and flat (or house) qualify under the rules set out in the legislation the tenant can extend the lease of his flat for a determined premium or purchase the Freehold (if the property is a house) or (if the property is a flat) join with his neighbours to buy the freehold of the building.
We also deal extensively with the Right to Manage regime introduced by the Commonhold and Leasehold Reform Act 2002. In a block of flats, the tenants have the right collectively to manage the building via a formal Right to Manage company.
We can assist with general advice and can oversee the entire process from initial notice through to completion.