Fleecehold Propties

[237SJ]

Any thoughts from anyone who owns one?

[237SJ]

'properties'

[237SJ]

More to the point, properties where the 'owner' is a residents association.

[THECORBYLOON]

Do you mean freehold or leasehold?

[237SJ]

Freehold but leasehold for common land - hence "fleecehold"

[Old_Geezer]

First I've heard of them. I thought it was something to do with sheep.

[Buenchico]

This might be of interest:
https://www.neilobrien.co.uk/p/fleecehold-estates-like-the-post

[237SJ]

Thank you.  I`ve seen just about every post on legal websites.  Just want info from someone with experience.  Thanks anyway.

[Maydup]

I managed a business in an office with apartments above. We bought the freehold to the property between us all and formed a Resident's Management Company to manage the common areas. Some of us were directors of the RMC. 
Not quite the same but similar I guess.

Meetings were held in one of the apartments over a sherry and a slice of Battenberg until it became clear that there was a company to run and a roof to fix! 

[The Builder]

I don't know if this any use to you 237, but I've built and owned small blocks of flats where I've set up a Management Company .

The building was freehold, and I issued one share per leasehold flat so that each owner had an equal share of the Management Co., and thus a share of the freehold.

I could then resign from the MC, and leave them to it.

[237SJ]

Thanks The Builder.  It is estate rent charges that I`m concerned about. I`m trying to find out if there is a deed of variation on clause 121 of the Property Act 1925 and I don't think there is at the moment and I`m not sure if the management company is handing over to the residents to run.  My solicitor is asking for documents at the moment.  I`ve read loads of threads on Reddit/MSE forums and it's a bit of a worry

[The Builder]

As I feared: I've had experience of leasehold, even converting to freehold, but I'm afraid nothing to do with 'RentCharges'. Ground rents yes, but that's entirely different.

Nothing on the Land Registry entries then?

[237SJ]

Not as far as I can see (although I don't know what all of the jargon means)  I think it will be in the management pack which I will just have to wait for I guess.

[The Builder]

If the management pack is any good, it should contain important info such as this.

Sorry I couldn't be of any help.   😞

[237SJ]

That's alright - thanks anyway