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Freeholder Duties
Freeholder solicitors in Manchester and London
The freeholder of a property owns it outright, including the land it is built on. As freeholder, you are responsible for maintaining the property and land, so you will need to budget for these costs.
You can appoint a managing agent to do this, and even include the costs as a service charge in the lease.
However, certain tenants have the legal right to take control of the management, and even buy the freehold off you.
With endless responsibilities and difficult tasks, it is no surprise many people choose to dispose of their freehold interest. You may also be in a position where you have inherited a freehold and do not want to deal with the ongoing management of it, or perhaps you simply need to raise capital.
Monarch’s team of expert property solicitors can help with a wide range of matters, including:
- Freehold Sales by Landlord
- Purchase Claims from Tenants
- Collective Enfranchisement Claims
- Right to Manage Claims
Contact our Property Solicitors:
We would like to discuss your freehold requirements directly to find out how we can help.
Please contact our Property Team by sending an email to us at [email protected] and one of our conveyancing solicitors shall call you back.
Alternatively, please call our property solicitors on 0330 127 8888 for a no obligation discussion.
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FAQ
This will depend on a variety of factors, including:
- the rateable values of the house at different dates;
- the ground rent;
- the number of years left on the lease;
- the value of the house.
Unfortunately, it can be quite a complex process. Tenants’ rights, in some cases, means that they may have the right to first refusal. Additionally, there are statutory notices you will have to comply with, and strict time frames for doing so.
The average process normally takes around 8-10 weeks to sell a freehold property.
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