Ask the experts.
Q I'M NOT happy with the factors for my tenement A comprehensive legal term for any type of property of a permanent nature—including land, houses, and other buildings as well as rights attaching thereto, such as the right to collect rent. block and am going to ask my neighbours if they are interested in self-factoring and putting money into a joint account every month to cover maintenance costs etc. Could you offer any practical advice and if you think there will be problems terminating an agreement with the current factors?
A YOU'RE not alone in feeling the service you get could be better. To change the current factoring arrangement, you will need to check your title deeds TITLE DEEDS. Those deeds which are evidences of the title of the owner of an estate.
2. The person who is entitled to the inheritance has a right to the possession of the title deeds. 1 arr. & Marsh. 653. and see what they say about common repairs and how these are to be managed. If the deeds do not cover this, the statutory Tenement Management Scheme will apply.
Generally speaking, all that is necessary is for a majority of owners (one vote per flat) to meet and agree to move to self-factoring.
A maintenance bank account can be set up to hold funds to cover repairs, insurance premiums etc and sets out arrangements as to how the account will operate. Your solicitor will be able to provide detailed advice. But be aware that, as the person raising this, you may find that the other owners will expect you to take responsibility for all administrative arrangements.
JANETTE WILSON Law Society of Scotland