RTM - lease transfer to new owner

nugget731

Hi, I am part of a right to manage company (5 flats, all with share of freehold). One of the owners is selling up. We have already filled out the LPE1 form, but I have a question around what needs to be lodged with Land Registry. The seller of the flat will cover the legal costs, but I am struggling to get my head around what a solicitor would actually do apart from assign the lease via LR? I just want to make sure the RTM company has covered off all the legal obligations related to the sale. Any guidance gratefully received! Thanks in advance.

eddddy

You mention 'Right To Manage' and 'Share of Freehold' - they are 2 separate things.

If you have both those things, I guess you have a tripartite lease (i.e. a lease between 3 parties).

If so, is there a 'Right to Manage' company and another company that owns the freehold - or does the 'Right To Manage' company also own the freehold? (Or some other arrangement?)


I guess you're saying that the freehold is owned by a company - and 5 people (flat owners) are shareholders in that company.

If so, presumably you want to transfer the company share(s) from one person to another. Ownership of the freehold won't change - it will still be owned by the same company - so LR shouldn't need to be involved in that.


I guess you also want to transfer the RTM company share(s) from one person to another. Again, that wouldn't involve LR.