Sussex Lease Extensions Blog

Lease Extensions: Solicitor or Valuation Surveyor?

Many leaseholders are confused as to who they need to contact to organise a lease extension or the purchase of a freehold of a block of flats (Enfranchise) on their behalf. Should it be a specialist Valuation Surveyor or a Specialist Solicitor? The answer is actually both. Usually the valuation surveyor is the first to be appointed.

To obtain a statutory lease extension or to enfranchise the freehold, a specialist valuation surveyor is initially required to inspect the property and leases, advising upon the premium valuation and the valuation figure to be inserted in the formal notice. A specialist lease extensions solicitor is then required to serve the formal notice, they will receive and check the counter notice when it is received from the freeholder. It is then referred back to the lease extension Valuation Surveyor to negotiate terms with the freeholders valuer. If successful the valuation surveyor will report the terms to the Solicitor who’ll complete the legal formalities of the new lease or transfer of the freehold including registering with the land registry. If matters cannot be agreed, then the solicitor will make an application to the Leasehold Valuation Tribunal for determination and if the disputed matters are purely in respect of the valuation then the valuation surveyor will attend the tribunal hearing and if purely legal items the solicitor will attend the hearing on the clients behalf. In some cases where both legal and valuation matters are outstanding, both professionals will attend.

The process involves a high degree of cooperation and consultation between the two professionals and it is beneficial to instruct professionals who regularly work together as a team.

This entry was posted on Friday, April 5th, 2013 at 12:39 pm and is filed under Fresh News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.