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For landlords and tenants, the right to leasehold enfranchisement is an essential part of enhancing and preserving the value of many property investments, and we act routinely for both institutions and individuals in this area.
A complex set of statutory provisions deals with the rights of tenants to extend their leases and to acquire a freehold interest, whether as the lessee of a flat or house or collectively as tenants of flats in a building. A tenants' right of first refusal and the right to manage a building are two further important rights that it may be relevant to consider.
We can advise you on the steps to be taken in any of the processes we have outlined and prepare the necessary notices and other documents. As lawyers, valuation is not something on which we can advise, so we have close links with leading valuers and will be pleased to introduce you to them if you do not have your own contacts.
In the unlikely event that terms of acquisition are not agreed, we have experience of cases being heard at the level of the First-Tier Tribunal and also by way of appeal to the Upper Tribunal. We can also recommend expert Counsel where representation at any such Tribunal is or may become necessary.
Given the complexity of the issues that can affect property ownership and financing, other colleagues within the firm can also advise on the tax implications of enfranchisement and the structuring of the ownership of the new interest, as well as corporate law assistance where this is necessary.
Extending the lease of your flat
Our short guide to the process of extending the lease of your flat is available here.
For more information contact one of our specialist advisers above or email us at firstname.lastname@example.org.