Absentee freeholder situation- I’d like to purchase the freehold

moneyfranc

Husband and I  are leaseholders of an Edwardian maisonette. We are on the top flat, and there is a ground floor one ( there are only two). When we purchased 17years  ago we were told the freeholder was absentee, and the vendor purchased an absentee freeholder insurance. I had actually made serious efforts to find this guy ( last known address,  electoral register etc) a few years ago when I extended the lease, to no avail.  At the time I asked the owner downstairs ( buy to let landlord) if they wanted to go for a share of freehold with us but they weren’t keen.
I’ve now heard we could purchase the freehold out  right and the other flat owner would remain a leaseholder. I would be interested in this. 

Has anyone done the same? What’s the best way to proceed? The other owner has form on foot dragging/ not communicating.

princeofpounds

https://www.lease-advice.org/advice-guide/ce-getting-started/

Check the rules on eligibility carefully. 

Absentee landlords are dealt with in Section 11. It requires more legal legwork but is no barrier otherwise.

Your biggest problem is that in a building of two flats, both must participate if you use the formal procedure (as opposed to an informal negotiation with the freeholder). But you can't use the informal procedure as you can't trace the freeholder.

So unless something changes, the only way you can become sole owner of the freehold is to get your neighbouring owner to work with you, and then sell his new interest in the freehold on to you in turn. Something that he may not be interested in doing, and it would be more legally expensive too as a third solicitor would be required to represent his interests as an individual.

You can phone LAS for free (it's a govt-funded service) for more advice.

moneyfranc

Thank you prince of pounds I have made an appointment with the LAS.