All eyes on the block
Flat dwellers, minded to get together to acquire the freehold of the block, will find much to their liking in amendments made by the Commonhold and Leasehold Reform Act 2002 to the collective enfranchisement provisions of the Leasehold Reform, Housing and Urban Development Act 1993. Certain residency conditions will cease to apply. Many blocks, so far excluded because they are less than 90% residential, will fall into the net, provided that the non-residential areas do not add up to more than 25% of the total floor area.
A helping hand is also extended to those less assertive (or bone idle) lessees who might otherwise be pushed aside by their freehold-thirsty neighbours. All qualifying tenants will have a right to become a member of the RTE company that has to be formed for the purpose of the intended acquisition.
These measures, together with certain changes made to the 1993 valuation provisions, are fully considered by Damian Greenish, of Pemberton Greenish, in
All eyes on the block
Flat dwellers, minded to get together to acquire the freehold of the block, will find much to their liking in amendments made by the Commonhold and Leasehold Reform Act 2002 to the collective enfranchisement provisions of the Leasehold Reform, Housing and Urban Development Act 1993. Certain residency conditions will cease to apply. Many blocks, so far excluded because they are less than 90% residential, will fall into the net, provided that the non-residential areas do not add up to more than 25% of the total floor area.
A helping hand is also extended to those less assertive (or bone idle) lessees who might otherwise be pushed aside by their freehold-thirsty neighbours. All qualifying tenants will have a right to become a member of the RTE company that has to be formed for the purpose of the intended acquisition.
These measures, together with certain changes made to the 1993 valuation provisions, are fully considered by Damian Greenish, of Pemberton Greenish, in Tenants gain a collective voice Estates Gazette 13 July 2002, p120.
