Help!
My sister and I inherited a small 2 bed ground floor maisonette last year when DF passed away unexpectedly. Its been through probate but is still in my dads name. He lived there since 1976 and it needs a lot of maintenance. No mortgage, 140 years on the lease. We found a buyer quite quickly but during conveyancing we’ve discovered the freeholder has been absent since the early 80’s. The upstairs flat was last sold in 1989 but the leaseholder is unsure how they overcame the absent freeholder issue.
Our solicitor has advised that a vesting order is the correct course of action, several Google searches suggest this is a costly and time consuming process. My sister and I don’t live anywhere near the property and have no interest in renting it (it’s not currently in a rentable condition). A quick look at the property forum suggests that in its current status this property is a complete white elephant. Does anyone have any advice on how to make the application for a vesting order as painless as possible? Could this type of property be auctioned as an alternative? I’m not sure what we do if the upstairs flat refuses to cooperate?