Virtual Freehold

Estate agents and developers will offer you a virtual freehold. Take care.

There is no such thing as virtual freehold. When a block of flats is developed each flat’s ownership should be sold/split as a new long lease, The freehold reversion should either be:
a. retained by existing owner; or
b. transferred to a newly-created company (limited by guarantee) of which each flat’s leaseholder should be a member.

So be careful of falling for the sales patter ‘ virtual freehold’ when it is not even exist.

Call or e-mail the experts for a free opinion.

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