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Selling a share in a freehold management company
Cathg
Posts: 1 Newbie
When our freehold was sold there were some people who were not in a position to buy their share. We bought the extra shares. One flat now wants to buy their share. We have agreed a price. Does anyone know how we go about this please?
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Comments
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I can't provide an answer but just to clarify your question, lets say there were 10 flats in the block and 8 flats bought the freehold.
Does the company comprise 8 shares each owned by a leaseholder or 10 shares with 2 owned (retained or whatever you call it) by the freehold company?0 -
Given the OP says they have the "extra shares", I think it safe to assume there was one share issued for each flat but they're not equally distributed among the leaseholders.I can't provide an answer but just to clarify your question, lets say there were 10 flats in the block and 8 flats bought the freehold.
Does the company comprise 8 shares each owned by a leaseholder or 10 shares with 2 owned (retained or whatever you call it) by the freehold company?0 -
When you bought the shares in the freehold I assume you used a solicitor. When you want to sell one of the shares, I'd suggest you use the same solicitor. Or, if you didn't like the service you got, use a different solicitor.
I'm not sure if I'm missing anything here, because it seems blindingly obvious to me, but then I've never owned leasehold so maybe these things are either far simpler or far more complex than I imagine.0 -
Just use a solicitor. You did think of telling the other flat owner that they would be paying the legal costs on top of the price, didn't you?0
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