Selling Lease to Freehold Ltd Company

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    Selling Lease to Freehold Ltd Company

    I own 3 of 4 flats (leases) in a building and am 75% shareholder in the Ltd Company that owns the freehold. My neighbour (who owns the other lease and 25%) wants to sell up. I am interested in buying. Can he sell his lease to the Ltd Company instead of me privately, making me 100% shareholder, and owner of all 4 leases in the building? The reason I ask is that I want to then begin using the Ltd company to rent this and future properties under?

    #2
    If he sells to the company you will only own three leases and the company will own one. Have I missed something?

    Whilst the company cannot grant a lease to itself, I think if its memorandum of association allows, it can have one of its leases assigned to it.

    Have you considered a surrender of the lease?

    Comment


      #3
      The purpose of the company owning the freeholder part of the 4 leases is to manage the building under the terms of the leases (of which you will own three). It has nothing to do with your private letting business. You can't muddle the two things together.

      Comment


        #4
        Yes, the Ltd Company can buy the 4th flat. but you will still own 3 flats under your own name.

        Comment

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