Have you received a Section 13 Enfranchisement Notice?
If yes, then a majority of the flat owners in the building are seeking to purchase the freehold interest from you. Provided the claim is valid, you are required by law to sell.
You would have two months from receipt of the notice to respond. Failure to respond would allow the leaseholders to acquire the freehold interest on the terms contained in the notice. Do call us as soon you become aware of any 1993 Act notice for our complementary enfranchisement guide.
Our mandate will be to maximise the amount you receive for the freehold interest and to establish whether the claim is valid.
We regularly assist freeholders come up with a strategy for selling off their freeholds
Landlords must comply with the right of first refusal procedure when they wish to sell their interest in a building containing flats. We can advise you whether the procedure applies or whether you can rely on an exemption.
If you are in doubt as to whether you are required to comply with the right of first refusal procedure you should contact us for further advice. Failure to comply with your statutory obligations constitutes a criminal offence punishable by a fine of up to £5,000.00.
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.