I live in a Victorian conversion that has 5 flats.
2 of the flats are leasehold
3 of the flats have share of freehold
The 3 freeholders wish to extend the leases on their flats by ading 90 years. They wish to pay for the solicitor and any other fees from the maintenance fund which all 5 flats pay into equally. Is this appropriate use of the maintenance fund?
Replies (2)
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Depends
I think there are two things to look at:
(a) what does the constitution of the maintenance fund say?
(b) if its silent on the matter, do the leaseholders agree to joint funds being used in this way?
If the answer to (a) is nothing (b) is yes, then I can't see any objection. To be honest I can't see anyone complaining other than the other stakeholders so (b) is the issue.