What happens to leaseholder funds after Right to Manage is exercised?

All leaseholders’ funds which are held on trust by your existing managing agent must be handed over to you or your appointed managing agent after the Acquisition Date. All funds in reserve fund accounts, sinking funds and future maintenance funds must be transferred to trust accounts in leaseholders´ names and operated by the new managemenet arrangements.

If there is a dispute over the amounts handed over, an application can be made to the Leasehold Valuation Tribunal. Please see www.lease-advice.gov.uk for full details.

Right to Manage Info works in Partnership with service charge specialists Knight Accountants based in Hastings & St Leonards on Sea, East Sussex.

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