freehold been changed to leasehold

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    freehold been changed to leasehold

    hi.my partner is selling her flat she bought about 12 years ago.when she got the flat she was transferred the share of the freehold for the property(groundfloor flat) this was done by appoint her the director of limited company that owned the freehold.
    Anyway all good, the problem is that when she put the flat for sale and she find a buyer, the buyer solicitor find out that the actual company that she was made director was actually terminated.
    what has happen is that when she got the transfer her solicitor did not advise her that been made director of the limited company she had to keep account every year so the company was made bankrupt or something like this, and as result the freehold went back to the Crown Estate and is now a 999 year lease, all this happened without any communication from any involved party.
    the problem the flat was advertised has having freehold but is not.does anyone have any suggestion how to procede?is having a 999 years leasehold almost as good as freehold?and if she try to get the freehold back will it be expensive and time consuming?hope you can help.thanks

    #2
    You can contact Companies House and enquire why the Company was removed from the register. It may be possible to restore the Company to the register depending on the reason for the removal.

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      #3
      Companies House would have sent multiple warnings before striking off, so I have no sympathy for her.

      A flat with the freeholder in Bona Vacantia is likely to be un-mortgageable, so she has a property that will be difficult to sell.

      A 999 lease without a valid freeholder is of little value.

      Incidentally, being a director of the freeholding company doesn't give you share of the freehold, it is simply being a member of the company. However, as director she is more responsible for its collapse.

      Comment


        #4
        Then who has been paying the buildings insurance, the maintenance of the building, repairs ( building, grounds, drive, walls, gates ).
        The Director - if they were responsible - would be collecting monies from all flat owners for annual maintenance.
        How many flats are there ?

        Comment


          #5
          Just shows the leasehold property system is not understood by the public and we should change to a better system in the 21st century .

          Comment


            #6
            LH64 - We have not been told that the Company was struck off by Companies House. If the registered office was not changed, correspondence would have been sent to an incorrect address.

            Comment


              #7
              They will send warnings to the directors directly, as well, if ones to the registered office produce no result.

              Comment


                #8
                No system, except one in which the state carries out all the freeholder responsibilities is likely to be understood by the average leaseholder. That's obviously not going to happen.

                Comment


                  #9
                  LH64 - If Companies House do not have the correct address for a director, they will send correspondence to an incorrect address

                  Comment

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