Can freehold reversioner withdraw lessee's Share Cert?

[balamoray]

I am wanting to rent out my flat whilst the market is low for selling
The company is telling me that they have being for legal advice and say
they can impose this " that they will not allow any member to rent out"
but are refusing to show any documentation to support this


We are a freehold share of which I hold a certificate
and no where in the Lease or company policy doc is there any Rules and Regulation about this subject Can they enforce this Help
Manythanks

[Poppy]

If you are certain that the lease does not prohibit sub-letting, then in my lay opinion you can sub-let.

Suggest that you point this out in a non-confrontational way to your fellow freeholders.

[balamoray]

Thank you so much for your response
and wondering if they can change the lease now
to include no Sub letting
they refuse to show evidence of legal correspondence as a member I feel I should be able to catch sight of thisto support what they say and I feel they are TRYING IT ON

Many thanks



Balamoray

[kikuyu]

Thank you so much for your response
and wondering if they can change the lease now
to include no Sub letting
they refuse to show evidence of legal correspondence as a member I feel I should be able to catch sight of thisto support what they say and I feel they are TRYING IT ON

Many thanks



Balamoray

The present freeholders, which includes yourself, cannot alter the lease until and unless all of you have agreed to do so. I am not sure what legal evidence you are talking about but your lease is the main documents and any variation/s to it must be registered.

If you are still in doubt then I suggest that you consult your solicitors.

[Lawcruncher]

Whether or not you can sub-let depends on what the lease says. If it is not prohibited, it is allowed. If it is allowed subject to conditions, you must comply with the conditions. If it is allowed subject to consent, you must obtain the consent which must not be unreasonably withheld.

Some leases contain a provision allowing the landlord to impose new regulations. "Regulations" only covers matters such as hanging out washing, the circulation of traffic in the car park and smoking in the lift. The provision cannot be used to change the covenants in the lease or impose new ones. The legal advice received is duff.

[thevaliant]

I would agree with the others. If your lease does not prohibit subletting, you may go ahead and do it. I've read somewhere on these boards that even leases that do prohibit subletting may not have that clause enforced (human rights and all that!).

I would rent out. If they are not happy, they can get upset!

It is your lease which will prohibit it. If that clause isn't there, there is nothing they can do. Your lease can NEVER be altered without YOUR consent, so don't give it!

[balamoray]

After some time of talking to the company
They are trying to change the wording of the Lease (no sub letting)and I refuse to allow this change
now the Bully Boy requires me to surrender my share
certificate and no longer be a freeholder

Any comments would be welcome

[jeffrey]

That's all a bit confused.
1. What 'company' do you mean?
2. Are you a long-leaseholder?
3. Are you also a member (shareholder) in the company that owns the freehold reversion? NOTE: this does not make you a freeholder!
4. Do the leases entitle each long-leaseholder to a share in the company that owns the freehold reversion? If so, that's yours for keeps!

[sgclacy]

After some time of talking to the company
They are trying to change the wording of the Lease (no sub letting)and I refuse to allow this change
now the Bully Boy requires me to surrender my share
certificate and no longer be a freeholder

Any comments would be welcome

I have a certain knowledge of company law and I cannot understand on what basis you would required to hand back your share certificate. You could however be removed as a director.

The freeholders can only by making an application to the courts to have a lease varied. To have a lease varied to preclude sub -letting is not a permissible ground for varying a lease. The lease will have powers to control the behaviour of problematic tenants and therefore if you sub let then your sub tenants bad behaviour (assuming this is the fear of the freeholders) could if proven to say the LVT pursuant to the provisions of Section 168(4) Of the Commonhold and Leasehold Reform Act 2003 put you in breach of your lease and with the consequential effect of putting your lease in jeopardy

Your fellow freeholders should be aware even if they agree amongst themselves to alter their own lease to preclude sub-letting that in fact they would be destroying value in their leases and would in any event require the consent of their mortgagees

[Poppy]

If you do not want to vary the lease, they'll have to take the matter to court. (Legal fraternity, would the fellow shareholders/freeholders have to pay balamoray's legal costs in addition to their own?) Remind them that to vary the lease by precluding sub-letting will quite possibly make their leases a lot less desirable when they come to sell. They're storing up problems for the future.

[balamoray]

We are a small company of 6 Freehold/share
and I hold a certificate
I am very grateful for your responses

Many thanks




Balamoray

[balamoray]

That's all a bit confused.
1. What 'company' do you mean?
2. Are you a long-leaseholder?
3. Are you also a member (shareholder) in the company that owns the freehold reversion? NOTE: this does not make you a freeholder!
4. Do the leases entitle each long-leaseholder to a share in the company that owns the freehold reversion? If so, that's yours for keeps!

Hi Jeffrey
Thanks for your comments
I purchased the lease with a freehold Share a little time back
and I dont understand you comments re This does not make you a Freeholder
I am trying to understand all of this so your helf is appreciated

Many thanks

Balamoray

[jeffrey]

Is it like this?-
1. Company (C) owns f/r
2. You own leasehold.
3. Also, you:
a. own a share in C (if limited by shares); or
b. are a member/guarantor of C (if limited by guarantee).