Buying a share of a freehold?

GoogleMeNow

proformance said:

Good info, thank you!

So the seller has responded and they have actually completed the stock transfer form!

It's just the ONE share that would be transferred.

I guess we sign this and send it to the management company then?

Regarding raising a complaint to the solicitors - they don't ever respond to us so it would be futile.

Look at the Client Care letter you received when you instructed your solicitor.  There should be a point of contact at the firm to whom you address your complaint.  You should go through this procedure first before escalating. 

Yes, both the form and the certificate need to be send to the management company - but you should check if there is a fee to pay (details either in the pack or the LPE1).  Without payment of the fees, the management company won't update their records.

user1977

GoogleMeNow said:

Stock Transfer Form

file:///C:/Users/Owner/Downloads/J30%20Stock%20transfer%20form.pdf

Perhaps luckily, we can't access your C drive from here...

GoogleMeNow

user1977 said:

GoogleMeNow said:

Stock Transfer Form

file:///C:/Users/Owner/Downloads/J30%20Stock%20transfer%20form.pdf

Perhaps luckily, we can't access your C drive from here...

Oh my, thanks for pointing it out!

proformance

GoogleMeNow said:

proformance said:

Good info, thank you!

So the seller has responded and they have actually completed the stock transfer form!

It's just the ONE share that would be transferred.

I guess we sign this and send it to the management company then?

Regarding raising a complaint to the solicitors - they don't ever respond to us so it would be futile.

Look at the Client Care letter you received when you instructed your solicitor.  There should be a point of contact at the firm to whom you address your complaint.  You should go through this procedure first before escalating. 

Yes, both the form and the certificate need to be send to the management company - but you should check if there is a fee to pay (details either in the pack or the LPE1).  Without payment of the fees, the management company won't update their records.

How do I check this? 
When we say "management company" - it is just the couple that owns the property upstairs. Just wanted to be super clear.

In any case, the sellers of our property have completed their part of the "Stock transfer" form, but couldn't get hold of an official share certificate. They have been told however that they own 1 share.

Should I insist they produce the share cert?

GoogleMeNow

@proformance

Please look at the paperwork you received during the course of your purchase.  In particular, look at the Leasehold Management Pack and/or Leasehold Property Enquiries form (LPE1).  In Section 2: Transfer & Registration of the LPE1 form, should be the answers.  If you did not get this form, then look in the Management Pack - the answers will be there.

When you have looked at the paperwork, please quote exactly what it states.

proformance

GoogleMeNow said:

@proformance

Please look at the paperwork you received during the course of your purchase.  In particular, look at the Leasehold Management Pack and/or Leasehold Property Enquiries form (LPE1).  In Section 2: Transfer & Registration of the LPE1 form, should be the answers.  If you did not get this form, then look in the Management Pack - the answers will be there.

When you have looked at the paperwork, please quote exactly what it states.

Attached

GoogleMeNow

Who completed and signed this form? Usually it would be the Company Secretary of the Management Company (could be your upstairs neighbour or someone else).

The question regarding whether you were required to take a share in or become a member of the Management Company was not answered and is why your solicitor didn't know about the share of freehold, though he should have made enquiries in this regard.  

Now look at the Freehold Title for the entire building and the Report sent to you by your solicitor during the purchase.  Who is the registered proprietor for the Freehold Title?  What does it say in the Report about the responses to leasehold enquiries?

proformance

R.e. pt 1 - the lpe1 was signed by the former own of OUR property, who signed it on behalf of the MANAGEMENT COMPANY, acting as the "landlord"

R.e. pt 2 - I can't find or may never have been given a title for the entire property.... would this typically have been supplied in this type of arrangement?

GoogleMeNow

Was the former owner of your property, the Company Secretary of the Management Company?  What does it say on Companies House?

Yes, you should have a copy of the Freehold Title for the entire building.

If you are sure you don't have it, please get a copy from Land Registry - it costs £3, but make sure it is the Freehold Title e.g. 10 Adam Street and not 10a or 10b Adam Street.

https://eservices.landregistry.gov.uk/eservices/FindAProperty/view/QuickEnquiryInit.do .