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Absent Freeholders - what can you do?

Missing, inactive, dissolved or just useless Freeholder?

If you own leasehold property and your Freeholder is failing to maintain or insure it, you are putting your investment at risk.

If your lease is shorter than 90 years you should be thinking about obtaining a Lease Extension in the next few years to avoid it dropping below the threshold for marriage value of 80 years, but if the Freeholder is absent you might not know where to begin with the process.

We can help with Missing or Absent Freeholders

Whatever the symptom being caused by your missing or absent freeholder, Jamieson Alexander can assist you in resolving the issue.

If you a looking to extend your lease the fact that your Freeholder is absent will not prevent you from doing so.

If after service of a statutory notice at the Freeholder's registered address no counter notice is forthcoming we will apply on your behalf to the Court for a Vesting Order which grants a Judge the power to sign your new extended lease on behalf of your absent Freeholder. Most of the time the costs involved with such Court applications are awarded by the Court to be deducted from the price you pay for your Lease Extension, meaning it won't actually cost you anything.

If you are simply concerned about the condition of the common parts or main building structure because the Freeholder is failing to maintain them, Jamieson Alexander can assist you in forming a Right to Manage company and forcing the management functions that the Freeholder is not providing to be allocated to the RTM company instead.

Don't worry you wont need to run the RTM yourself, you can appoint a reputable local Managing Agent to run the RTM and the freehold management on behalf of the RTM company thereby avoiding you having to know the complex legislation surrounding the management maintenance and health and safety of residential leasehold blocks.


If you would like any advice on what to do in the case of an absent or indeed just idle Freeholder, please do not hesitate to call us for a discussion about the situation you find yourself in and what your options are contact Ben Colenutt on 0330 2000 017 or ben@jamiesonalexander.co.uk




 

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