Collective enfranchisement is also known as leasehold enfranchisement, freehold purchase and buying freehold. Discover more with out simple FAQs.
Collective Enfranchisement FAQs
Category: Leasehold Enfranchisement
What is Leasehold Enfranchisement?
Leasehold enfranchisement, also known as collective enfranchisement, is a joint process by which a group of flat owners purchase the shared freehold of a building.
Reasons to Buy Your Freehold
The value added to your property by purchasing your freehold normally outweighs the cost, which in any case is only slightly greater than merely extending your lease.
Cost of Buying Freehold
Leasehold enfranchisement can be both time-consuming and expensive, but we like to break the costs down into five simple stages.
Freehold Purchase Process
Leasehold enfranchisement is a complex process which needs to be managed by solicitors and surveyors. However we have broken the whole thing down into 13 simple steps.
Can I Buy My Freehold?
If you fulfil certain statutory criteria, you are legally entitled to compel your landlord to sell you the freehold of your building. The requirements which must be fulfilled are…
Participation Agreement
A participation agreement is a binding arrangement that sets out how the freehold purchase costs will be allocated. It also helps protect your interests during the process.