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Freehold company


riesermax

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Dear friends

I am living in a flat one of six flats block for last 17 years. I am one of the share holder directors as we bought free hold about six year ago . Two of the owners do not live here but they let out flats and in others all retired old ladies living.

I am in my 40 indian background but these ladies make life hell for me since we bought the free hold they do what ever they want to do. They do not consider me they often inerfere in my flat and even they do not let me to leave my windows open for fresh air.

They also rise the building maintance and spend money unnecessary improvements one of them is friend of a builder now they want to replace all these front windows for 16000 pound and I can't afford.

I dont want to leave from here any body could help me please.

max

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Hi riesermax,

The simple answer to this is that you need to get the other freeholder owners together and, at the Annual General Meeting of the company that owns the freehold, you need to get everyone to vote against the Directors of the company and replace them with other people.

Once you have control of the freeholding company then you are free to appoint a different management company to manage and maintain the flats.

In most cases, the company that owns the freehold also provides the day-to-day management of the properties. Therefore, if you manage to remove the directors of the freeholder company you will probably also assume control of the management and maintenance company.

I hope that helps ....

Mark

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Hi Mark,

Many thanks for your reply I am sorry I could not explained well.

We all six are freehold owners as well as directors of this freehold company but four owners/directors they are friend together they are in majority and I am also owner and director but in minority so they take no notice of me whatever I say. There was an annaul General meeting last week now I am not paying building improvment fund because they treat me badly please any suggestion will be much apprciated.

what will happen If I don't pay the building improvement fund?

Or

what will happen if I quit the company?

Many thanks

Max

Hi riesermax,

The simple answer to this is that you need to get the other freeholder owners together and, at the Annual General Meeting of the company that owns the freehold, you need to get everyone to vote against the Directors of the company and replace them with other people.

Once you have control of the freeholding company then you are free to appoint a different management company to manage and maintain the flats.

In most cases, the company that owns the freehold also provides the day-to-day management of the properties. Therefore, if you manage to remove the directors of the freeholder company you will probably also assume control of the management and maintenance company.

I hope that helps ....

Mark

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Hi riesermax,

This is a disaster .... if you are in a minority then you need to tread very carefully. Owning a share of the freehold does not mean that you can avoid abiding by the terms of the lease of your flat.

If you refuse to pay the management charges then you will almost certainly be in breach of the terms of your lease ..... and - assuming the management company take legal action against you - will ultimately mean that you could end up losing ownership of your flat (although this is very very rare as the dispute would be settled by you or your mortgage company or both) as the management company could foreclose on your lease.

You need to reach an urgent compromise on all of this ... or you need to sell up and move somewhere else.

Has anyone else got any thoughts on this ?

Mark

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