Leases can last for hundreds of years, and one of the most significant problems a leaseholder can face is finding that the person or persons who own the structure of their building have disappeared.
That can commonly occur when a freeholder dies without leaving heirs or a will, leaves the country, goes bankrupt or puts the freehold into the ownership of a company which is improperly set up or run and is struck off the register.
When this occurs it can mean it is difficult to remortgage or sell your property because the person responsible for maintenance and insurance and answering questions about the building is simply not there ot do those things. It can prevent a property being sold for full market value, and clearly prevent proper maintenance taking place.
When this occurs it is important for a tenant to be able to exercise their rights to either locate the freeholder, buy their freehold despite them being missing, or obtain the right to manage despite not being able to give notice to the missing person.
What Thackray Williams Do?
We can work to investigate the whereabouts of a missing freeholder and then negotiate a freehold purchase or right to manage. We can deal with acquiring a freehold where it has passed bona vacantia to the crown, or ownership has been disclaimed by the crown.
We can also deal with the necessary court an tribunal applications to allow you to buy a freehold, extend a lease or acquire the right to manage where a freeholder has disappeared.
Work at a glance:
- missing freeholder applications
- investigating a freeholde
- bona vacantia purchases
- lease extensions with missing freeholders
- right to manage with missing freeholder
- freehold purchase with missing freeholder
- disclaimed freeholds