Missing landlord Tracing Service
If the whereabouts of your freeholder cannot be traced it will be necessary to apply to Court to acquire the freehold interest or to extend your lease. We regularly assist flat owners with such applications.
The premium payable will depend on what statute is used to acquire the freehold interest. The length of the leases, ground rents payable and value of the flats will also factor into the calculation.
There are two alternative statutory procedures which flat owners can use
The Leasehold Reform, Housing and Urban Development Act 1993 process (“the 1993 Act”)
The 1993 Act route will be the only option available where a single leaseholder is acting on their own.
The Landlord and Tenant Act 1987 process (“the 1987 Act”)
The 1987 Act can only be used where the leases of the flats in your building require the landlord to insure and repair the building structure and more than 50% of the flat owners are participating in the action. Where flats have less than 80 years unexpired this statute can give a more favourable premium outcome.
We should be able to provide you with a rough estimate of the freehold premium split/lease extension cost before you commit to the process but ultimately the court will rely on expert valuation evidence from a chartered surveyor to set the price.
The County Court has a general discretion to award legal costs and should allow you to offset the bulk of your litigation costs of the process against the premium payable. We can fix our costs for the entire process with you from the start to give you certainty on this front.
For initial advice, a quotation or to arrange a meeting with one of our solicitors, please contact us on 020 7940 4060 and ask for a member of the Leasehold Service Team.
Alternatively, email us at mail@anthonygold.co.uk
