Freehold Management Enquiries (FME1)

tlbssl

I am one of the three directors who manage a limited company on behalf of the residents on a small freehold development.

We manage the private roadway and the lawn and garden area at the entrance of the development.

We took over from the developer last year and have had a number of problems that were not of our making.

However, our enquiry concerns, the freehold management enquiry document, the FME1 .

Potentially, there are three properties that could be sold this year and we are preparing to issue 3 FME1 forms when requested. We have downloaded the latest form, converted it to a Word document and have inserted the common details for all properties.

We plan to make a nominal £50 charge for this, and another £50 for the issue of a compliance certificate stating that the buyer has conformed to covenant within the title, allowing them to register the property.

Whilst the information required in the FME1 form is fairly straightforward. There are a number of questions which we do not fully understand.

This is where we would appreciate some advice.

Item 1.5 who accepts service of the notice of transfer and charge?

We have checked the “Mangement Company” box, shown nil cost and checked “Notice via email"

What does the MC do here to make a charge? And who do they charge?

Item 2.1 Is a Deed of Covenant required?

Our answer is “Yes”

Item 2.1.1 If yes confirm the cost applicable to the Deed

What is done to cause a cost?

Item 2.1.2 Provide details of the person who deals with the Deed of Covenant

We would assume the buyers solicitor would handle this basically copying the appropriate information from the sellers Title. Are we correct?

Item 2.4 what is the procedure and cost for obtaining a certificate in accordance with the restriction in the Proprietorship Register at the Land Registry if applicable?

We assume this is the MC informing the buyers solicitor that the buyer has conformed to the covenant and enabling the solicitor to apply for registration at LR for which we will make a charge.

Thank you
Brian