Change in Ownership

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  • Change in Ownership

    Hi

    We manage a number of properties on behalf of a limited company and that company is going to be selling it's properties to a new limited company. We will be continuing to manage to the properties on behalf of the new company. My question is that if we wish to issue proceedings in relation to one of these properties the proceedings would need to be issued in the new companies name however the tenancy agreement & NSP would be in the old company name. Will this cause a problem at court and do we need to provide the tenants with S48 notice to advise them in the change of ownership?

    Thanks

    Matt

  • #2
    If the portfolio goes to a 'new ' company then it is a 'Relevent Disposal' unless new co is a sub co belonging to the original for more than 2 years. If I remember correctly...
    Envoking RFR...
    Bag of NaCl required

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    • #3
      Originally posted by Markonee1 View Post
      Envoking RFR...
      Bag of NaCl required
      Sorry please can you clarify what this means?

      Thanks

      Comment


      • #4
        I've now been told by the RLA that any S21 which was issued in the old companies name will become invalid when the property is sold and the new landlord will need to issue a new S21 if they wish to issue possession proceedings. Please can anyone clarify if this is correct?

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