In our block of 4 flats one flat has now sold and it has been bought by a father and son jointly.
Within the block, We own a company which was created for the purposes of holding the freehold. Each owner has one share.
I understand that the new owners of the flat will jointly hold the one share of the freehold company (after the resignation of the previous director). What I am not clear on is the appointment of directors within the freehold company. Previously, with four individual owners of the 4 flats, each one of us was a director (thus 4 directors). However, with one flat now being purchased as a joint ownership, how would the appointment within the company work? Would the joint owners of this flat be two directors appointed (resulting in 5 directors), or only one of the two will be appointed (maintaining the 4 directors dynamic)? I assume Companies House will not allow a joint appointment as "one director"...
I apologise if the questions seem rather simplistic, but I hope someone may be able to help.
Thanks
Within the block, We own a company which was created for the purposes of holding the freehold. Each owner has one share.
I understand that the new owners of the flat will jointly hold the one share of the freehold company (after the resignation of the previous director). What I am not clear on is the appointment of directors within the freehold company. Previously, with four individual owners of the 4 flats, each one of us was a director (thus 4 directors). However, with one flat now being purchased as a joint ownership, how would the appointment within the company work? Would the joint owners of this flat be two directors appointed (resulting in 5 directors), or only one of the two will be appointed (maintaining the 4 directors dynamic)? I assume Companies House will not allow a joint appointment as "one director"...
I apologise if the questions seem rather simplistic, but I hope someone may be able to help.
Thanks
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