Your legal foundation
It explains what you own, what you contribute to and how Local Blackfriars should be managed.
Your registered lease defines the apartment, the length of the leasehold term and rights over shared areas. You own the leasehold interest, not the building’s freehold. The lease also records promises made by the landlord, Local Blackfriars Management Limited (MANCO) and leaseholder.
The landlord or freeholder performs its lease duties and arranges buildings insurance. MANCO provides the building and estate management services. The leaseholder pays the charges specified by the lease and observes its covenants.
The lease sets out service charges, building-insurance contributions and ground rent.
The developer also put in place separate ten-year inherent-defects insurance—sometimes informally called a building guarantee. We explain this important protection in a later topic.
The lease governs services, access, repairs, insurance and the use of homes and shared spaces. Its wording is the first place to check when questions arise.