spark
14-03-2005, 18:22
Hi,
I'm interested in buying a flat but it's Share of Freehold which I understand is better (since you have some control over what happens), but can pose some problems if not all members of the freehold agree on matters. In this case the freehold is shared between 4 flats.
Can anyone tell me whether there are any standard mechanisms for dealing with this kind of dispute?
e.g. say the roof needed replacing and one member of the shared freehold doesn't want to stump up the cash, what happens?
Does the fact that the shared freehold consists of a company (of which the 4 members are equal shareholders) with leases back to the four members help at all (which i understand is normal)?
Many thanks.
I'm interested in buying a flat but it's Share of Freehold which I understand is better (since you have some control over what happens), but can pose some problems if not all members of the freehold agree on matters. In this case the freehold is shared between 4 flats.
Can anyone tell me whether there are any standard mechanisms for dealing with this kind of dispute?
e.g. say the roof needed replacing and one member of the shared freehold doesn't want to stump up the cash, what happens?
Does the fact that the shared freehold consists of a company (of which the 4 members are equal shareholders) with leases back to the four members help at all (which i understand is normal)?
Many thanks.