352. Collective enfranchisement.

The right is given to the tenants of a block of flats collectively to acquire the freehold of the block1. The freehold is conveyed into the name of a nominee purchaser2 or a company created by the tenants to buy the freehold known as a Right to Enfranchise (RTE) company3.

The statutory provisions relating to collective enfranchisement apply to any premises if:

  1.  

    (1)     they consist of a self-contained building4 or part of a building;

  2.  

    (2)     they contain two or more flats held by qualifying tenants5; and

  3.  

    (3)     the total number of flats held by such tenants is not less than