Freeholder
The freeholder has possession over the freehold of the development (i.e. the communal areas and the land the site was built on). Normally, the freeholder is the developer but in some developments, the leaseholders, when formed into a residents association, purchase the freehold this is known as a RMC and the residents need to form a company with rules and regulations, a secretary a chairman and must make a copy of their annual accounts available to Companies House.
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