Lease enfranchisement has attracted a great deal of interest since its formal introduction in 1967 and has been amended and expanded since then.
The right of long leaseholders to buy their landlord’s interest outright, or to acquire an extended lease term, is unique to England and Wales. The law is constantly evolving, with many precedents and new developments. Whether you are a landlord or a tenant, you will be keen to protect your respective property interests.
The experts at Rumball Sedgwick are ideally placed to assist you in all matters concerning lease enfranchisement.
There are two types of lease enfranchisement:-
The collective right to enfranchise
This gives the right for tenants of flats, acting together, to purchase the freehold and any head leases of their building. In order for the building to qualify under the Leasehold Reform, Housing and Development Act 1993, it must:-
- Be an independent building or part of a building which is capable of independent development
- Contain two or more flats held by qualifying tenants*
- Have at least two thirds of the flats held by qualifying tenants*
* those tenants on a long non-business lease which, when granted, was for a term of more than 21 years
Enfranchisement for houses
The Leasehold Reform Act 1967 gives the tenant of a leasehold house, who fulfil certain rules of qualification, the right to acquire the freehold and any intermediate leases. Rumball Sedgwick can advise you on the key areas of qualification as they apply to the building, the lease and the tenant.
Our expert guidance through this complex process will help you:-
- Prepare for a claim
- Understand how the claim is made
- Deal with any disputes
- Reach completion
For more information on lease enfranchisement, call our professional team on 01727 519143.