| Comment | You need to get a look at the title deeds which your solicitor will have given you a copy of I'm sure. In the title deeds there are sections about burdens which in most cases will explain what needs to be done to change the factor.
After you've done that I would do some research and approach some factors that you want to take over and from their point of view they'll do a bit of research and determine whether it's worth their while to pursue it. There are plenty of issues that could get in the way, so I'd work with everybody in the close (or as many are willing to participate) to try and identify factors that everyone is happy with and they should send you documents on their costs, written statements etc.
Once you've done that, your proposed new factor will have to set up a formal meeting and although this may not apply to you, in most cases it is a simple majority i.e, if there are eight flats, you need five to vote to agree to change.
Once that's done, your new factors will serve a notice to H&P and I know from experience that they require three months notice before changing hands. |
|---|