Freehold Acquisitions and Disposals
You should seek the advice of your Financial Advisor as to the most tax efficient mechanism for acquiring  a new property or parcel of land.
- Milton Keynes 01908 660966
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Once Heads of Terms have been agreed we will, if acting on your purchase, obtain the draft contract and title documentation, review any restrictions, put in hand a search suite and raise any necessary additional pre-contract due diligence enquiries of the Seller’s Solicitor.
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Should you  require funding for your acquisition we will report to you on the conditions attaching to your offer of loan.
We will then provide a Property Report to you and obtain any clarifying instructions, together with your authority to proceed to contract on your behalf.
Finally, we will exchange contracts and complete the matter,  before attending to all post completion formalities, including the payment of stamp duty land tax at HMRC and registering your  property at the Land Registry.On the sale or disposal of your property or parcel of land, we will obtain your full instructions, review your title deeds, draft
the agreement for sale, attend to any replies to pre-contract enquiries, provide you with a full Property Report and gain your authority to proceed on your behalf.
Finally, we will proceed to any necessary exchange of contracts  and completion, to include redeeming any existing charges secured against your property and account to you, as the case may be.
Frequently Asked Questions about Freehold Acquisitions and Disposals
Can a landlord refuse to sell freehold?
No, under Freehold Enfranchisement a leaseholder can force a freeholder to sell their interest. By law, a tenant or leaseholder has the first refusal to purchase the freehold of a property should the owner of the freehold decide to sell. If the leaseholder does not take up the option to buy the freehold, it can be sold to a third party.
What is a leasehold disposal?
A leasehold disposal is the process whereby a leaseholder can exit a lease agreement, usually by transferring the lease agreement to another party, under the same terms as the original agreement.
Do I have the right to buy my freehold?
Yes, under Freehold Enfranchisement a leaseholder has the legal right to purchase the freehold of the property. Should the freeholder decide to sell, under the Right of First Refusal law, a tenant has the first refusal to purchase the freehold.
What happens if the landlord decides to sell their freehold?
If a landlord decides to sell their freehold, they must legally offer the tenants the Right of First Refusal, meaning that the tenants have the right to purchase the freehold before the freehold is offered to third parties.
Can you change a leasehold property to freehold?
A leaseholder has the right to purchase the freehold of the property either by law if they meet the criteria, or through negotiation with the owner of the freehold.
What are freehold acqusitions and disposals?
Freehold acquisitions and disposals is the process of buying and selling freehold property, often where leasehold agreements and tenants are involved. Typically, this is the case with a block of flats, for example.
Contact the Franklins Commercial Property team
If you have any questions about freehold acquisitions and disposals, please don’t hesitate to contact our team of experts who are on hand and ready to help you.
