Splitting title deeds

dunc_mac

I own a property with a limited company containing 2 apartments and a shop under one title. 

I would like to take out a btl mortgage on one of the flats and I enquired to my solicitor about splitting the title deeds. I was told I can’t grant a new title to myself and so the only way to do this would be to set up a new limited company to buy the flat. This would incur £7.5k stamp duty fees, plus legal expenses.
I was wondering if anyone knows of another way of doing this please? Thinking out loud, but perhaps I could sell the Freehold to myself or a new limited company instead?...  any thoughts/ideas would be very much appreciated.
Thanks,
Duncan 

davidmcn

The point is you can't sell anything to yourself, whether it's a new lease of the flat or the freehold. You need to contract with a different legal entity, hence the suggestion of forming a limited company.

Yes in theory you could transfer the freehold to a limited company and then grant the lease to yourself as an individual, though not sure it makes much difference to costs. Then it would mean the landlord's interest in the other flat and the shop are also in the company (unless you're setting up leases to yourself for those too), which affects things like tax and ongoing admin.

jillforshaw247

Splitting title deed
Hi
I have a house with garden and I also have an acre field which are all in the same title deed. I want to separate the house from the field. As I want to be able to sell the house and garden but keep the field. A solicitor has advised me they can do this for £1000 approx. Can anyone give me any advice/tips on doing this? The house is mortgaged 
many thanks 

greatcrested

jillforshaw247 said:

Splitting title deed
Hi
I have a house with garden and I also have an acre field which are all in the same title deed. I want to separate the house from the field. As I want to be able to sell the house and garden but keep the field. A solicitor has advised me they can do this for £1000 approx. Can anyone give me any advice/tips on doing this? The house is mortgaged 
many thanks 

Better to start your own thread rather than confusing people by hijacking the current one.

Falafels

jillforshaw247 said:

Splitting title deed
Hi
I have a house with garden and I also have an acre field which are all in the same title deed. I want to separate the house from the field. As I want to be able to sell the house and garden but keep the field. A solicitor has advised me they can do this for £1000 approx. Can anyone give me any advice/tips on doing this? The house is mortgaged 
many thanks 

I can talk to you about this, Jill, if you want to start a new thread!