My daughter lives in one of six flats in a a converted Edwardian house. Each flat has an equal share in the management company, which they pay into for common maintenance etc.
The freeholder has approached the management agent and offered the freehold to the management company for what I think is a very good price, £7,500 plus expenses.
Are there any reasons why that might not be a Good Thing?
And more importantly, what's to stop them then giving themselves each a 999 year lease? (Or doing away with the leases and signing over the freehold, but I imagine that's less desirable in a shared building) - I'm thinking that maybe while they have a solicitor engaged on transfer of freehold, writing up new leases may not cost much more (in fact I suppose it could already be in the price).
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