This is obviously an extreme remedy for a freeholder but one that can be a major financial windfall for the freeholder as they can sell the flat again and keep all the proceeds. The courts recognise the extreme nature of forfeiture and there are a number of legal obstacles to be overcome to even be able to apply to the court.
From a flat owners point of view this is an absolute disaster as not only do they lose their flat and pay the costs of the legal proceedings but they get absolutely no compensation at all and receive nothing. The entire equity in the flat is lost.
If you contact us we can make sure the freeholder has satisfied all the complex and numerous conditions necessary to seek forfeiture and challenge them if they have not and even if they have we can present sound and experienced arguments to the court why forfeiture and repossession should not be granted.
From a freeholders point of view it is important that you receive the sound and experienced advice we will give you both on whether you have met the many legal conditions that apply before an application can be made to the court and then carry out the in depth professional preparation necessary to persuade a judge to allow forfeiture and repossession to proceed.
Whether you are a freeholder wanting to forfeit and seek repossession or a flat owner desperately seeking to avoid repossession please contact us and we will be happy to advise and assist you and explain the procedure and costs involved.