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Jeremy Aldermartin
Jeremy Aldermartin, Solicitor
Category: Property Law
Satisfied Customers: 9627
Experience:  Dual qualified Solicitor and Attorney
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Is anyone a specialist in commonhold properties?

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Is anyone a specialist in commonhold properties?
Hello,

I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.

I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.

Thank you!

Hi thank you for your message, please note that I will look to provide an accurate but nevertheless speedy reply to your inquiry. I will endeavour to help you today.

What would you like to know?

Without a response to my query I can only provide a general answer. If you want to find a solicitor to assist with this process and represent you at the hearing you can find a solicitor using the Law Society find a solicitor search option here: https://solicitors.lawsociety.org.uk. You can search by town or postcode to find one near you, as well as area of law in this case property law.

I trust this assists you in understanding your position however, should you have any supplementary inquiries, do not hesitate to ask and I will look to clarify or expand on my previous response.

Customer: replied 14 days ago.
Apologies for not replying sooner - life got in the way!
I am trying to weigh up the pros and cons of leasehold with share of freehold Vs commonhold. I live in a development of 11 houses and some common land. We/the residents own the freehold of the whole site and manage it through a limited company that we are all directors of (limited by guarantee). We are weighing up whether it would be better to go down the commonhold route. What would you say the pros and cons of each structure are?
Ok well for these purposes freehold means you own your property and a share of the total land area so you would need to contribute towards the costs of maintaining that. You would however also have a say what happens to the common land areas. In relation to a commonhold, commonhold is a form of ownership (or tenure) for multi-occupancy developments. Each unit-holder owns the freehold of their home, and a commonhold or residents’ association owns and manages the common parts of the property. There are standardised rules for commonhold. There is really not a great deal of difference between having freeholders who have a share of ownership of the common areas and a commonhold arrangement. I trust this assists
Customer: replied 14 days ago.
One of our concerns is that the current arrangement means that someone might want to own their freehold and it would presumably be difficult for us to do them from doing so? However, this complicates the structure as the unit holders that buy their freehold are also directors of the management company, so they would effectively own a share of everyone else's freehold too ? This doesn't seem fair
If the freehold is owned, controlled and managed by a company now, any new purchaser could not demand their share of the freehold be transferred to them because that would need to be approved by the company and that would need a majority vote of the shareholders of the company ie all the other properties. I trust this assists
Customer: replied 14 days ago.
But if the majority of shareholders didn't approve the transfer/purchase, could the residents who want their individual freehold not go to a tribunal and potentially force the issue?
They could try but there would be no basis for it. That would be the structure in place when they bought it and with no expectation that would change. I trust this assists
Customer: replied 14 days ago.
Would the Leasehold reform act 1967 not be a basis for someone to go down the enfranchisement route?
Customer: replied 14 days ago.
Or is this complicates because effectively they already own a share of the freehold?
Customer: replied 14 days ago.
complicated
No because they own a share of the freehold. They can enfranchise themselves because they are already enfranchised. The enfranchisement provisions apply to leaseholders. I trust this assists
Customer: replied 14 days ago.
Sorry, did you mean to say they can't enfranchise themselves?
exactly. I trust this assists
Customer: replied 14 days ago.
Thank you, that's helpful
Happy to help take care
Jeremy Aldermartin, Solicitor
Category: Property Law
Satisfied Customers: 9627
Experience: Dual qualified Solicitor and Attorney
Jeremy Aldermartin and other Property Law Specialists are ready to help you
Customer: replied 9 days ago.
I have thought of another question! Our development has a very distinct look and the lease has various restrictions about what you can and can't do to the outside of your property. If we moved to commonhold, would it be possible to specify similar restrictions - say in the commonhold statement?

Yes that would be perfectly possible. I trust this assists