Block management company share

markb1_2

Hi,

I am selling a flat that is one of three in a block. There is a limited company set up for the management of maintenance and buildings insurance etc. and each leaseholder owns one share in this company. The company is currently dormant as it would cost as much to run as is put into it each year so we don't have an accountant. On completion, the new owner will need to be issued a share certificate, what I need to know is how this certificate is issued and who should/can do this? We would prefer to do this without an accountant if possible. Perhaps someone has been in a similar situation or has knowlwdge of the process and and can offer some advice.

Many thanks - Mark.

Pete9501

This is going to be a drama down the line if you find a buyer. You don't necessarily need an accountant as the limited company may not have any assets or funds in its own right, it just looks after the property owners money. However, if you have a dormant company not filling the annual returns how are you going to issue a share cert? Suggest you speak to your solicitor after you have spoken to the other two owners to gauge their opinions.

Pete

markb1_2

All sorted. You require a "Stock Transfer Form" which can be found online for free (be careful as there seem to be quite a few legal "self-help" sites offering to sell you this form). Then, from Companies House you need to complete a TM01 form for the outgoing director, and an AP01 form for the incoming director, both of which can be completed online if you have WebFiling enabled for the limited company.