Top 3 Essential Steps in the Collective Enfranchisement Process

The desire to acquire the freehold of a building to have full control and stop playing the lease for the rest of your life is what makes collective enfranchisement a popular option for London flat owners. Now, Collective Enfranchisement in London can be a very long process, but if this is really what you and your co-flat owners think is best, there are 3 essential steps to take note of.

Talking to Co-Flat Owners

Remember that a collective enfranchisement cannot be allowed if majority of the flat owners are against it. So, the first essential step of the process is to convince other flat owners to join you in trying to acquire the freehold.

Checking Out Building Qualifications

Even if all flat owners agree to pursue collective enfranchisement if the building does not meet the qualifications, acquiring freehold is not possible. According to the law, there are factors that hamper the rights to collective enfranchisement such as being not a purpose-built block, etc. Therefore, you must check the qualifications out first before attempting to acquire freehold.

Hiring Legal Help

To proceed to further steps in the collective enfranchisement process, it is important to consider hiring legal help who can create agreements and legal notices as well as assist in other procedures like the appointing of nominee purchaser, the assessment of purchase price, etc. Hiring legal and professional help can reduce the stress and complexity of the process.

Collective Enfranchisement in London may be a long and complex process but it can be worth it in the end. Contact us if you want to know more.