The short answer is, ‘no.’ Once the freehold purchase process has started under the 1993 Act[i] there is no statutory provision whatsoever requiring those participating to admit any other flat owner in the building to their number. Similarly, unde…
Do we need a participation agreement?
This is a question I often get asked in practice and the answer is almost invariably, yes. What is a participation agreement? A collective freehold purchase involves a commitment from all of the participants to act together in the purchase of the …
I am thinking of buying a flat with a short lease, is there anything I can do?
Yes, there certainly is. Why not see if you can get the seller to serve a notice claiming an extended lease so that you can take the process over when the flat is sold to you. How do I do this? Provided that the seller has owned the property for m…