Nicolle Marshall LLP is delighted to offer its services to buyers at this exciting new development.
Westward apartments are being sold as flying freeholds. Buying off plan means that buyers must be happy with the documentation and plans before the construction is completed.
Nicolle Marshall LLP is delighted to offer its services to buyers at this exciting new development.
Westward apartments are being sold as flying freeholds. Buying off plan means that buyers must be happy with the documentation and plans before the construction is completed.
Jersey’s flying freehold law provides for the division of a property (the “Collective Property”) into private units (i.e. an apartment) and common areas (i.e. the structure of the building, shared access ways and facilities used in common).
Ownership of a private unit (an owner being known as a “co-owner”) grants outright freehold title to an apartment (and, where relevant, of any parking space or store). Together the co-owners form an “Association”.
Each co-owner’s rights and responsibilities are set out in a co-ownership declaration (the “Declaration”) which must be registered with the Royal Court before the first private unit can be sold.
The Declaration sets out each co-owner’s percentage interest in the common areas and this is then linked to the amount a co-owner will contribute towards the maintenance and upkeep of the common areas.
The costs of maintaining the common areas are dealt with by a managing agent (also known as the Association Representative and appointed by the Association) who will prepare a budget setting out the expenses and costs. Each co-owner will pay their share of the expenses as a service charge payment to the Association. The service charges will cover costs such as paying the managing agent’s fees, the buildings insurance, cleaning, gardening, lighting and other maintenance matters.
To purchase a flying freehold property, a contract is passed before the Royal Court. Any mortgage monies will be secured against the borrower’s private unit.
Once we have dealt with our client onboarding procedures with you, we will advise you on the development documentation and the pre-sale agreement, both in writing and at a face-to-face meeting.
If you are happy to proceed then an initial payment is made (or stage payments arranged) and the process is paused whilst the development is completed.
When the completion date is triggered, we will deal with any paperwork for any mortgage provider you may have, and the completion process, which will include passing your contract in the Royal Court either on your behalf under a power of attorney, or accompanying you to attend in person.
Whatever your requirements, we recognise that you are placing your trust in us, and we aim both to earn and to reward that trust. For us, it is a cornerstone. We understand that legal matters can be intricate and often personal, and we believe that trust is the foundation of a successful client-lawyer relationship.
Jersey’s flying freehold law provides for the division of a property (the “Collective Property”) into private units (i.e. an apartment) and common areas (i.e. the structure of the building, shared access ways and facilities used in common).
Ownership of a private unit (an owner being known as a “co-owner”) grants outright freehold title to an apartment (and, where relevant, of any parking space or store). Together the co-owners form an “Association”.
Each co-owner’s rights and responsibilities are set out in a co-ownership declaration (the “Declaration”) which must be registered with the Royal Court before the first private unit can be sold.
The Declaration sets out each co-owner’s percentage interest in the common areas and this is then linked to the amount a co-owner will contribute towards the maintenance and upkeep of the common areas.
The costs of maintaining the common areas are dealt with by a managing agent (also known as the Association Representative and appointed by the Association) who will prepare a budget setting out the expenses and costs. Each co-owner will pay their share of the expenses as a service charge payment to the Association. The service charges will cover costs such as paying the managing agent’s fees, the buildings insurance, cleaning, gardening, lighting and other maintenance matters.
To purchase a flying freehold property, a contract is passed before the Royal Court. Any mortgage monies will be secured against the borrower’s private unit.
Once we have dealt with our client onboarding procedures with you, we will advise you on the development documentation and the pre-sale agreement, both in writing and at a face-to-face meeting.
If you are happy to proceed then an initial payment is made (or stage payments arranged) and the process is paused whilst the development is completed.
When the completion date is triggered, we will deal with any paperwork for any mortgage provider you may have, and the completion process, which will include passing your contract in the Royal Court either on your behalf under a power of attorney, or accompanying you to attend in person.
Whatever your requirements, we recognise that you are placing your trust in us, and we aim both to earn and to reward that trust. For us, it is a cornerstone. We understand that legal matters can be intricate and often personal, and we believe that trust is the foundation of a successful client-lawyer relationship.
