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Section 5 Notices

Section 5 Notices must be served by any freeholder looking to sell their freehold to an unrelated third party.

This is often known as the 'right of first refusal'. Leaseholders of the relevant building(s) must be notified of this intention and be given a chance to group together and make a rival bid either at auction or directly. If the freeholder fails to do this before selling the freehold, they could forfeit it to the group of leaseholders.

It is important to act very quickly if you receive a Section 5 Notice, as there are very tight timescales to consider.

ALEP News

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  • Thursday 29 October 2020

    *Save the date* Hosted by Anna Bailey & Piers Harrison, the ALEP Virtual Quiz returns with a festive edition on T… https://t.co/tpoXg6GmWV

  • Wednesday 21 October 2020

    'Timescale of changes to leasehold is down to the politicians' but the Law Commission is 'optimistic' about… https://t.co/HfSPE3NGsX

  • Wednesday 21 October 2020

    An interesting session on #commonhold and #leaseholdreform today from Professor Nick Hopkins @Law_Commissionhttps://t.co/upACXeyq91

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