Collective Enfranchisement: Initial Steps
Collective Enfranchisement: Initial Steps
Obviously the very first step in the process of collective enfranchisement is for tenants to come together and establish whether or not they can indeed proceed with the collective enfranchisement. If this is the case, then the first step is NOT to serve the Initial Notice (ironically, the Initial Notice should only be served after several steps in the process have been completed).Once agreement has been reached that all the lessees want to get involved, it is always a good idea to get a participation agreement drawn up, so that you all know what is being proposed and the terms on which you will proceed are agreed.You should also seek to instruct both a specialist surveyor and a specialist solicitor. The process of collective enfranchisement is actually a very complex area. Enfranchisement is not something that is done routinely by most solicitors or surveyors and as such you really need to have expert advice from specialist who really know what they're doing. This specialist knowledge from the solicitor and surveyor is crucial. You may have to pay more for this level of expertise but in the end it will definitely be worth it, simply because you will be able to seek advice on the price that you may have to pay and to detail this within our Initial Notice. This may help you save time seen as the whole process of purchasing the freehold can be long!Creating a RTE (Right to Enfranchise) Company. There is no requirement to set up an RTE Company as part of the process of collective enfranchisement, but it can certainly help and if the company is limited by guarantee, then it ensures the process will be financially stable.Even though this might seen blatent, the next step is to find out who the freeholder is. It is important to find out exactly who owns the freehold and who any outstanding rental monies are owed to. This can easily be done through contacting the Land Registry.At this point within the process of collective enfranchisement, the information and legal framework should be clear enough to enable the Initial Notice to be drawn up by the specialist solicitor and the correct legal framework be adhered to, thus ensuring that the whole procedure of collective enfranchisement runs as smoothly as possible and the freehold purchase is completed in no time at all! Shopping Destinations During the Great Singapore Sale March Madness Betting: Conference USA Tournament Teams Wave Goodbye! The Singapore Arts Festival Hoi An in the world top 10 tourist cities Get Active During Your Isle of Wight Holidays Mountain West Tournament March Madness Betting: UNLV Looking Strong How to Enjoy Your Holidays in Dorset Spring and Summer Shoes for Girls Chile Travel Advice For Oenophiles IPad2 now is available in 26 countries, where is android tablet? Why Currency Cards Are The Best Way For Travellers Wanting To Buy Thai Baht Coastal Vietnamese resorts invite holiday-makers to ‘Golf the Beach' How great is Eye Secrets invisible strips