Leaseholder wants to change Ground Rent?Make Text Bigger
I am the Freehoder of block of Flats (12) which I acquired in 2014. The orignal Lease is 125 years from 2009
The intial (and current) Ground Rent I collect is £150 per Annum. The lease provision is Ground Rent doubles every 25 years
One of the Leaseholders is selling and have asked to amend the terms wherby I confirm Ground Rent increases will be capped at £1000.
My questions are
1–Am I obliged or can I refuse outright and if I did any Legal action ?
2–Who is responsible for Legal Fees in particular my side
3–If I agreed is there a value /price I as Freeholder should ask ?
4–If I do for this one should I automatically do same for the others in the Block ?
5–Any other comments from my position as Freeholder and again in light of recent negative press on this
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