The leasehold reform act 1993 was intended to enfranchise leaseholders by extending to them, amongst other things, the right to purchase a share of the freehold of the premises of which they were leasholders, provided they met certain criteria.
It was a good idea, but is working against the interests of many leaseholders simply because they do not have an absolute right to join in the enfranchisement process.
As things are, a simple majority of leasholders are necessary to commence proceedings leading towards enfranchisement, but that majority can, if they wish, block other entitled leaseholders fram taking advantage of a law they were all intended to benefit from.
Please consider amending the act, as soon as possible, so that leaseholders may not be excluded should they wish to participate, and in the event that an enfranchisement has already taken place that they are entitled as a right to demand participation in the enfranchisement that has taken place. Suitable arrangements will have to be worked out to financially compensate or allow for those leaseholders who may have already extended their lease by an additional term of 90 years or more, and there may have to be certain exclusions to cater for persons not entitled to become a director of a company because excluded.
There are many people in position to benefit from the proposed change outlined above and who would welcome a favourable change.
Thanking you in anticipation.
C R Cowell
Why does this idea matter?
There are many people in position to benefit from the proposed change outlined above and who would welcome a favourable change