pedro5000
27-01-2010, 13:08 PM
I am the leaseholder of a flat that is part of a freehold made up of two blocks of flats and a group of freehold houses that share some common ground.
All of the flat owners wish to go through collective enfranchisement so that leases (< 75 years) can be extended and possible the company split into a more sensible arrangement of 2 or 3 companies.
As I understand it the freehold is owned by a management company (limited by guarantee) of which all of the leaseholders and the owners of the freehold houses are equal members. There is no 'seperate' freeholder.
The owners of the leasehold flats believe that therefore there should be no marriage value to pay. The owners of the freehold houses disagree, and say a full valuation is necessary and that the full marriage value must be paid - they are a little unclear as to who it should be paid to although there is a strong suggestion that they should get it.
If the management company is already limited by guarantee surely the only money to be paid is for costs otherwise the company will be profiting which, by definition, it can't do.
Any ideas?
All of the flat owners wish to go through collective enfranchisement so that leases (< 75 years) can be extended and possible the company split into a more sensible arrangement of 2 or 3 companies.
As I understand it the freehold is owned by a management company (limited by guarantee) of which all of the leaseholders and the owners of the freehold houses are equal members. There is no 'seperate' freeholder.
The owners of the leasehold flats believe that therefore there should be no marriage value to pay. The owners of the freehold houses disagree, and say a full valuation is necessary and that the full marriage value must be paid - they are a little unclear as to who it should be paid to although there is a strong suggestion that they should get it.
If the management company is already limited by guarantee surely the only money to be paid is for costs otherwise the company will be profiting which, by definition, it can't do.
Any ideas?