An Enfranchisement Leasehold Valuations Tribunal: Its Members
The LVT or the Leasehold Valuation Tribunal is the title that is given to the panel of people who have been recruited to make decisions and offer ideas for resolution to disputes that involve residential leasehold property. In cases of enfranchisement, the Leasehold Valuations Tribunal will provide a price for the freehold interest and that price will then be used as a base for the purchase. Once set, there is no possibility of the price being altered.
The first step in bringing a claim before the Leasehold Valuations Tribunal is to lodge your case with the LVT clerk. Although the clerk does not sit on the actual Tribunal Panel and they will not actually deal with any of the legal aspects of your enfranchisement case, they are fundamental to the whole process. They will sort out any paperwork belonging to your claim, provide any advice you may need regarding processes and procedures and give you a timeline for a hearing. They will also take your fees for the case. They are experts on the bureaucracy of the tribunal!
The head of the Tribunal Panel is the Chairman. This is an individual whom is especially appointed by the Lord Chancellor. It is probable that this person will have been a surveyor or solicitor during the majority of their career and will thus have a lot of expertise. As is often the case the Chairman may not have legal experience, however they will always have a deep knowledge of the leasehold property. The Chairman will know the processes and procedures surrounding both enfranchisement and freehold purchase. Another one of their main responsibilities is overseeing the LVT proceedings.
The other members of the LVT panel are appointed by the Local Council or Department for Communities. As with the Chairman, these panel members will have expertise in the leasehold sector. They too will be surveyors or solicitors, or the like. It is likely that these members will be highly experienced in leasehold enfranchisement and freehold purchase, they will therefore know the gravity of the valuation that they provide and what impact this will have on both parties involved. This experience also helps ensure that their decisions are fair.
The LVT panel is independent and fair, they act impartially towards both the leaseholder and freeholder. They are an independent panel made with the aim of having enough expertise to be able to value the properties concerned. They will help both parties achieve a fair result.
About the Author
For collective enfranchisement solicitors, contact Bonallack & Bishop (http://www.enfranchisementsolicitors.co.uk ), a firm specialising in freehold purchase. Senior Partner Tim Bishop is responsible for all major decisions, seeing himself as a businessman who owns a law firm. Tim has expanded the firm by 1000% in 12 years and has plans for its continued development.
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