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Leasehold Enfranchisement

by: aaronschell32 on Date: Sun, 1 Apr 2012 Time: 9:12 PM

Many persons may not be aware that a lease is a depreciating asset: it loses value as time goes by. Under certain conditions you may have the right to extend your lease without actually living in the property itself. You and other leaseholders may be able to exercise your leasehold enfranchisement rights and buy the block from the landholder. Leasehold Enfranchisement is the right for flat leaseholders to join together to force their landlord to sell the freehold to their block of flats to them. When you buy the freehold, you become both landlord and tenant and you can extend the lease of your flat by granting yourself a new lease of up to 999 years. However, such a bold legal move can be complicated which is why it is a good idea to retain a leasehold enfranchisement solicitor when doing it.

A leasehold enfranchisement solicitor can offer you advice and assistance in relation to all of the issues concerning leasehold enfranchisement. A lawyer can arrange a visit to your block to discuss the matter with the leaseholders or resident's association. And if you and your neighbors have not yet set up a residents association a lawyer can assist with that.

Although solicitors are trained and licensed to practice in pretty much any field of law, leasehold enfranchisement solicitors tend to be especially knowledgeable about that area of property law. And although such cases are handled out of court, leasehold enfranchisement lawyers are trained and do prepare to go to trial if necessary.

However, trials tend to be expensive and can be excessively burdensome if they drag out over time. If you and your fellow residents have decided to exercise your leasehold enfranchisement rights you probably prefer a smooth and efficient transaction—which means settling with the freeholder of the property; and in such a situation, finding a solicitor with the skill, knowledge, and experience to get a quick and speedy settlement becomes crucial.

Fortunately, there is help. Like most things, smart, effective leasehold enfranchisement solicitors can be easily found using the worldwide web. Lawyers such as Osbornes Lease Hold Enfranchisement can help you become landlord and tenant. The key to knowing whether or not you've got a lawyer you can count on is to look at their track record; for the best predictor of future performance is past performance. Reviewing the number of cases in which the solicitor was able to help tenants get through the process of buying the property on their block swiftly is a good indicator of how effective he or she is; this is the kind of information you need before deciding whether to retain the services of that lawyer.

Another important thing to look at is how well the solicitor sympathizes with your position. You want a lawyer who can identify with what you're doing and dedicate themselves to getting you what you want. Passion and commitment are just as important as legal knowledge and expertise; and there is no reason you should not have all of these in the leasehold enfranchisement solicitor you work with.

About the Author

Learn more about your leasehold enfranchisement rights. Contact Osbornes Lease Hold Enfranchisement at http://www.osbornes.net/services/property-litigation/leaseholder-and-tenant-services/lease-extensions.aspx.

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