Freehold Purchase

eddddy

lesley2363 said:

It iwasa right to first refusal section 5 notice that we have all received the 4 told me they did not want to buy so the other 2 couldn’t proceed without 50% but they have in fact responded to the letter to accept leaving us out on finding this out we have informed the company’s solicitor that we also want to by our freehold and be included in the group but don’t know if they have to include us by law or can they refuse

For the 3rd time...

YES - they can exclude you.

lesley2363

If the 4 go ahead with miss x representing them and she does not set up a company for them but uses one of her own existing company’s which she has more than one who will own the lease the 4 flat owners or the company 

TripleH

Op, have you or the other flat ever had a disagreement with Miss X in the past?

It's just a puzzle as to why it seems you two are the only flats in the 3 blocks not apparently part of this change in circumstances?

lesley2363

We don’t n know the woman but in our block the 2 left out do permanent rentals the other 4 are owner/residents and they think we will change the lease to holiday letting 

eddddy

lesley2363 said:

We don’t n know the woman but in our block the 2 left out do permanent rentals the other 4 are owner/residents and they think we will change the lease to holiday letting 

It's very unlikely that anyone will be able to change a lease to allow holiday letting, unless all 6 leaseholders in the block agree.


More generally, it's unlikely that any covenants (or 'rules') in any of the leases can be changed, unless all 6 leaseholders agree.

Leases are structured that way to protect leaseholders.

lesley2363

Sorry I keep getting leasehold and freehold mixed up this is all just to upsetting to try and clarify if the 4 buy the freehold but miss x uses one of her company’s who then owns the freehold the 4 or her company 

TripleH

I would expect the 4 to form their own company. They would own the company but the company would own the freehold.

If it is Miss X, she would be a 5th owner of the company (in effect she would own 20% of the freehold).

It is unlikely that Miss X would own the freehold to your block 100% unless she paid for it all.

eddddy

lesley2363 said:

Sorry I keep getting leasehold and freehold mixed up this is all just to upsetting to try and clarify if the 4 buy the freehold but miss x uses one of her company’s who then owns the freehold the 4 or her company 

There are different ways of doing it - but I suspect that a newly formed company will own the freehold.

The new company will be set up by the 'Group of 4'.

The 'Group of 4' can decide who gets shares in the new company, and/or who controls it.

For example, the 'Group of 4' could give 100% of the shares in the new company to Miss x. And/or they could give control of the new company to Miss x. Or they could keep the shares and control for themselves.



If you like conspiracy theories, the 'Group of 4' might even have signed a contract with Miss x along these lines:

• The 'Group of 4' set up a company and buy the freehold for £50k (or whatever)
• The 'Group of 4' then transfer 100% of the shares to Miss x in return for a payment of £90k (or whatever)
• So the 'Group of 4' make a profit of £40k... or £10k each
• Miss x has control of the freehold

But it could also be much more innocent than that, for example:

• The 'Group of 4' might just be good friends and get on well with each other, so they want to buy the freehold together
• Miss x is being friendly and helping them with the process

lesley2363

There is a lot more to this than has been said not to be unkind but the 4 don’t seem to understand what is happening as an example 1 of the 4 signed with our solicitor but was told by miss x to withdraw as she was part of the group of 4 she was unaware of this I believe miss x has manipulated them in order to obtain the freehold 

eddddy

lesley2363 said:

There is a lot more to this than has been said not to be unkind but the 4 don’t seem to understand what is happening as an example 1 of the 4 signed with our solicitor but was told by miss x to withdraw as she was part of the group of 4 she was unaware of this I believe miss x has manipulated them in order to obtain the freehold 

I'm sure different people have different agendas.

You have your agenda, and Miss x has hers.

It sounds like part of your agenda was to use your flat for holiday lets.

Maybe Miss x (and others) didn't want any holiday flats in any of the blocks, so they shut you out. Or maybe they have other reasons.

But overall, it sounds like relations between neighbours are going to deteriorate as a result of all this.