Confused Freeholder (Company)

Robs_2

I would like to sell my flat but are unsure what I need to do with the freehold. I own 50% of the freehold company with the downstairs neighbour. We have never bothered to get a lease period set up as we don't pay any maintenance fees. The reason I bought the freehold was to do a loft conversion but I have decided to move instead. It cost £6K to buy the freehold which is held by the freehold company of which my neighbour and I are directors. Do we need to set up a 999 year lease or can I sell the property as is? Then would I need to transfer the new owners onto the company as directors? Any ideas would be greatly appreciated as I am very confused about what to do.:(

Doozergirl

That's for your solicitor to sort out. If the lease is very short then they can extend it during the conveyancing but you simply sell it as share of freehold and your solicitor does the rest.

Robs_2

Thank you for putting my mind at rest