Most properties in England and Wales are owned “freehold” – you own the building and the land it sits on. But some properties are owned “leasehold”, where you own the building but not the land it sits on, and you only own the building for a specific length of time. This is often the case with blocks of flats: each flat in the block is owned leasehold but there is one freeholder who owns the block itself and the land it sits on.
This system is very old-fashioned and increasingly creates problems for leaseholders, so many leaseholders are now buying the freehold from their freeholder. In the case of blocks of flats, this can mean that leaseholders are forming their own company to buy the freehold and run the building themselves.
But what if the freeholder can’t be found?
It might seem strange, but a freehold is a very abstract thing to own, and there are many instances where a freeholder has moved away or even died, leaving the leaseholders with no idea who owns the freehold and no therefore no obvious way to buy it from them. This is particularly common on long leaseholds, where the original freeholder may have died many years ago and the current freeholder has not been identified.
In these cases, there is a legal process which is carried out. The case is brought before a tribunal, and a surveyor is engaged to estimate how much the freehold is worth. The leaseholders then pay this sum to the tribunal, and the freehold becomes theirs. The money they paid is lodged at court until the freeholder comes forward to collect it.
But, of course, the freeholder may never come forward: even if they’re alive, they may never realise that the freehold has been sold without their knowledge or consent!
This is where we step in. We trace the freeholders (or, where the freeholder has died, the person or people who should now be the freeholders) and, through our lawyers, represent their claim to the funds which the leaseholders paid into court.
If you’re reading this, we may believe that you are a freeholder, or entitled to the proceeds from the sale of a freehold.
How do we charge for the work we do?
We work on a contingency fee basis – more commonly known as “no win, no fee”. In return for our work in identifying you, locating you and providing information to prove your claim to the funds, we ask you to agree for us to be paid a small percentage of what you receive. Percentages vary depending on the type of case and the amount of research involved; generally, the most we charge is 25%.
We will never ask you to pay any money upfront! The entire contingency fee system is designed to protect you: you never write us a cheque; we never get your bank details; our fee is simply deducted from the funds you receive, before you receive them.
Ok, so what happens next?
We ask you to sign some paperwork and return it to us:
Agreement: This document awards us our percentage, and allows us to compile your claim to the funds. Of course, you’re welcome to take legal advice before signing this, and the law allows you 14 days to change your mind after you sign, too.
Power of Attorney: This form allows our lawyers to deal with all the legal processes on your behalf. This ensures that the proper expertise is used and that there is full insurance cover at all stages to protect both you and any other beneficiaries. Our lawyers, who are experienced at this work, make applications to the courts, deal with judges and even attend court hearings on your behalf if necessary. Having said this, you’re still welcome to be as involved in the process as you wish. The Power of Attorney refers only to this case and doesn’t affect your other financial interests at all.
Proof of your ID and your address: This helps us to prove that the people we find really are who they say they are. We will only use your data for purposes relevant to your claim and do not share it with others for marketing purposes. Our full privacy policy can be found here.
How much are freeholds worth (i.e. how much could I receive)?
Obviously, this varies depending on the property in question, but we tend to find most freeholds in our cases have been in the range of £10,000 to £50,000. If you’re one of several people entitled to the funds, the money will be divided amongst you.
How much do our lawyers cost?
We work with award-winning expert lawyers from well outside the South-East, meaning that the cost is much lower, yet the standard of their work remains of the highest quality. They are entirely independent of us, to avoid any suggestion of conflict of interest. Our long-standing relationship with them and the volume of work we give them means that they can afford to charge less for their work on each case than they might otherwise. Again, this benefits you, as more money is left for distribution! You’re welcome to contact them directly at any time if you wish, to discuss the case.
The lawyers’ fee, like ours, is deducted from the money you receive, before you receive it so, again, you never have to pay them directly. Typically, for freehold cases, they charge less than £2,000.
How long does it all take?
This often depends on which tribunal and court dealt with the original purchase, and how efficient that court is in dealing with our application. We would normally expect the funds to be released within 6-12 months.
You may well have other questions about your case, so please feel free to ask us.
Aren’t there other companies who do this work?
Yes. Probate genealogy is a very competitive field and the chances are you’ll be contacted by several other genealogy companies at the same time. So why should you choose us and not them? Find out here!
If you have any other questions not covered on this page, feel free to get in touch here.