Sale of freehold of converted house
A Victorian house has been split into apartments, each apartment has been sold on a 999 year lease. There are actually 4 leases but only 3 apartments as 2 of the apartments have been knocked together to create one household.
The freeholder is a limited company. The directors and shareholders in this company used to own 2 of the apartments but these were sold. 6 years ago one of the shareholders appointed a professional management company to run the block (in fact all they ever did was to arrange the buildings insurance). That director of the freeholding company resigned and the director of the management company was appointed a director of the freeholding company.
We (the current flat owners) applied under the right to manage legislation and set up own own company to run the block. There is a small ground rent payable of £10 per year but I don't think we have ever been asked for that.
The second director of the freeholding company has also resigned and the shares in the freeholding company have been purchased by the new management company so that the original directors and shareholders no longer have any interest in the freehold.
I thought that if the freehold was sold the leaseholders had to be offered the opportunity to purchase the freehold. Am I right or am I mistaken in that?
Has the freehold actually been sold or not in terms of the legislation? The beneficial shareholders have changed but the freehold still belongs to the original limited company.
If the freehold has been sold do we have a remedy?
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