Is it really legally necessary for monies raised as service charges to be maintained in an exclusively designated trust account? I understood that a trust account was best practice only, not a legal requirement. I thought, as described in FPRA Newsletter Issue No 94 Autumn 2010, trust/designated accounts were stipulated in the Commonhold and Leasehold …
We are currently in the process of selecting Managing Agents having interviewed 3 to date and are now waiting for other suggestions from the shareholders. As far as we are aware we only need a Majority vote, is this correct? The FPRA replies: On the basis that the Directors are making the decisions (they are …
[level-member] FPRA writes to new Housing Minister Mark Prisk urging him to seriously consider problems faced by leaseholders. Read Mark Prisk letter 16.1 Read Te Minister’s brief reply 28.02 [/level-member]
Section 20 as we know it has taken another legal knock, this time at the Supreme Court in the case of Daejan Investments v Benson. Broadly, the Supreme Court has ruled that technical irregularities with the bureaucracy of Section 20 compliance, are not grounds for leaseholders to restrict their contribution for major works to the …