I own 2 of the 4 flats and the freehold in a purpose built 1980's block. I don't exploit the situation financially and would be stitching myself up if I did, as owning two flats, I pay 50% of the maintenance charges per month for the block. They are kept to an absolute minimum and are split 4 ways. The other two owners of the leasehold flats want to extend their leases from the 68 years that they have to run. Anyone know where I stand here? The last thing I want to do is to incur solicitors fees, end up with loads of hassle, only to add value to their properties, especially as owning the freehold only generates £300 per annum, which is obviously taxable and is a lot more trouble than it's worth.
All of my money is in the flats. I have absolutely no liquidity and this is my one opportunity to get some. I don't want to exploit anyone, but have no intention of subsidising the leaseholders more than I am at present. Am I expected to pay 1/3 of solicitor's fees? Can I choose a solicitor to handle this on behalf of all three of us? I would really appreciate some constructive advice. I don't have a solicitor. Could someone recommend one that would ensure that my interests are protected, without milking me?
All of my money is in the flats. I have absolutely no liquidity and this is my one opportunity to get some. I don't want to exploit anyone, but have no intention of subsidising the leaseholders more than I am at present. Am I expected to pay 1/3 of solicitor's fees? Can I choose a solicitor to handle this on behalf of all three of us? I would really appreciate some constructive advice. I don't have a solicitor. Could someone recommend one that would ensure that my interests are protected, without milking me?
