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RTM or RTE?
bouicca21
Posts: 6,667 Forumite
For various reasons we are dissatisfied with our management company, so the talk now is of taking over the management ourselves or buying the freehold.
For RTM we have more than the 50% leaseholders required, but for RTE it all depends on the value of the freehold. We can't work this out as one of the leaseholders is absent and not responding to letters addressed to them at the flat they own. We need to know how long their lease is and what ground rent they pay in order to do a rough back of the envelope costing (although all the leases are basically the same, the original length is now well below 80 years and the flat owners have renewed at different times on different terms, so the lengths and ground rents vary).
Can we compel the existing management company to give us this information? Or do we need to fork out the 40 odd quid that the Land Registry will charge for a copy of the lease (seeing as we don't know the title number)?
I assume we need to make a decision as to which route to take as the articles of association for an RTE company are presumably different to those for an RTM one.
For RTM we have more than the 50% leaseholders required, but for RTE it all depends on the value of the freehold. We can't work this out as one of the leaseholders is absent and not responding to letters addressed to them at the flat they own. We need to know how long their lease is and what ground rent they pay in order to do a rough back of the envelope costing (although all the leases are basically the same, the original length is now well below 80 years and the flat owners have renewed at different times on different terms, so the lengths and ground rents vary).
Can we compel the existing management company to give us this information? Or do we need to fork out the 40 odd quid that the Land Registry will charge for a copy of the lease (seeing as we don't know the title number)?
I assume we need to make a decision as to which route to take as the articles of association for an RTE company are presumably different to those for an RTM one.
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Comments
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Yes RTM & RTE will involve very different company articles.
I don't have any leasehold flat Titles so can't check, but do they not show the original date and length of the lease? If so, £3 for the online Title.
If I'm wrong, then yes you'd need to ask the leaseholder (I suspect the freeholder would refuse (bl**dy data protection blah blah!) or buy the paper lease from the LR - but it's £7 isn't it? You can get the Tilte number from the £3 Title.0 -
How far back does the land registry have leases? The flat in question has not been sold in recent years so the search screen says there is no sale price data available. Gossip suggests it has only changed hands by inheritance.0
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Is it registered?
If it is, the lease may well have been submitted to the LR at that time.
Inheritance makes no dfference - if the ownershi changed hands due to inheritance the new owner would be registered, and possibly the lease.
For the sake of £3, is it not worth checking.....?0
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