Issue details

1.1 To seek the Director’s approval to accept the surrender of the lease for the property which is currently a shared equity property, the leaseholders and Council both holding a 50% share.
1.2 Where surrender is not agreed that the Director approves the sale of the Council’s share of the property at the same time as the leaseholders share is sold, if this is requested by the leaseholder. The reversion of the freehold to be dealt with co-terminus.
1.3 These options are to be provided in order that the property, does not remain unoccupied for an extended period of time and reduces the debt due to the Council in respect of rent and service charge payable.