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Estate agents and developers will offer you a virtual freehold. Take care.

There is no such thing as virtual freehold. When a block of flats is developed each flat’s ownership should be sold/split as a new long lease, The freehold reversion should either be:
a. retained by existing owner; or
b. transferred to a newly-created company (limited by guarantee) of which each flat’s leaseholder should be a member.

So be careful of falling for the sales patter ‘ virtual freehold’ when it is not even exist.

Call or e-mail the experts for a free opinion.

For more information or a free legal opinion telephone 020-7381-8111 (24 hour service) or email law@rhplaw.co.uk

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This entry was posted on Monday, June 14th, 2010 at 10:09 am and is filed under Blog. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.