Right of first refusal – expert solicitors
Are you a freeholder selling your freehold, or a leaseholder looking to acquire it? If so, you need to understand the right of first refusal – when it applies and how to meet your obligations.
Buying and selling your freehold – the Right of First Refusal
When a freeholder wants to sell (or dispose of) its freehold, it is obliged to offer the qualifying leaseholders of the flats comprising the freehold the opportunity to acquire the freehold. This is known as the right of first refusal and arises under section 5 of the Landlord and Tenant Act 1987.
At Brady Solicitors we are experts in all aspects of right of first refusal matters. We are experienced in advising on a variety of developments from a small residential block through to a large mixed-use development.
Brady Solicitors can assist by:
- Advising freeholders about whether the right arises and how to comply with it
- Assisting leaseholders who have received offer notices from a freeholder
- Advising freeholders and leaseholders on liabilities arising from previous freehold disposals
- Providing assistance and information to freeholders and leaseholders about rights and obligations generally under the legislation
The right of first refusal will not apply to the sale (or other disposal) of all freeholds and not all leaseholders will be eligible for an offer from the freeholder. However, as soon as a disposal is considered or known of, the parties should take careful legal advice to avoid non-compliance.
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Many thanks for your help, professional advice and calm nerves. I will be recommending you to anyone I know needing a good solicitor buying or selling or indeed needing a lease extension.
I am very happy with the way Brady Solicitors helped me to extend my lease. They made the process easy, clarifying the various stages, giving me advice on my options and handling them professionally.
I have found them to be highly professional in all our dealings, but most of all knowledgeable of the minutiae of service charges and block management.
I was very satisfied with Brady Solicitors. They were very helpful and if I did not understand things they were always there to help. I would definitely recommend them to everyone.
Brady’s has recently carried out multiple lease extensions, with mine included. These have taken place in good time, and I have been informed of the various steps of progress in a pleasant and knowledgeable manner. Many thanks.
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