Capital Gains Tax following enfranchisement

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    #31
    Originally posted by Telometer View Post
    I am no property lawyer; is the beneficial ownership so constructed so that the freehold is somehow split up, so that each leaseholder owns - beneficially - the bit of the freehold that relates to the bit of the individual flat? Because if not, then each leaseholder is transacting with each leaseholder in his role as freeholder, surely?
    No; the entire f/r's beneficial ownership (equitable interest) cannot be fractured on a property-by-property basis.
    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
    2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
    3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
    4. *- Contact info: click on my name (blue-highlight link).

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      #32
      I thought not. And does Newco generally own f/r as nominee, or beneficially?

      Comment


        #33
        Originally posted by Telometer View Post
        And does Newco generally own f/r as nominee, or beneficially?
        Beneficially. It owns an asset at law and in equity; its members (= shareholders or guarantors) in turn own the Co.
        JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
        1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
        2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
        3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
        4. *- Contact info: click on my name (blue-highlight link).

        Comment

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