Freehold Purchase 9From Leasehold)- RTE constitution?

gerryfitz

Has anyone been involved in the purchase of their Freehold via a Right to Enfranchise Company?

If so, can you point me in the right direction that I can find a draft constitution?

I am newly moved in to a block of 6 flats, and they have already set up a RTE company and the purchase of the freehold is going through shortly.

They have Articles of Association but no written constitution. I have got the job of finding a suitable Bank Account for the Company and the Bank have said they want to see a Constitution, (which is different to the Articles of Association (apparently)), so I am minded to draft one out if all else fails?

Regards,

Gerry

Doozergirl

Have you contacted the Leasehold Advisory Service?

http://www.lease-advice.org.uk/ Telephone number on the website.

They're government funded so should be able to point you in the right direction at no cost.

martinman3

A constitution would be required if your group of leaseholders were a club or society but they are a limited company.

All that is needed is the Certificate of Incorporation.

p.s. Our company has three accounts, one with Nationwide, BusinessInvestor (£5000 to open, 6 cheques a month for free), one with Abbey, Business Reserve Acc (£50 to open, 5 cheques a month for free), one with Abbey, Business Bank Acc (£50 to open, all cheques for free).

I can't really recommend Abbey as the customer service is dreadful. By the way, if you are worried about the BusinessInvestor the account minimum is £1 so open it with £5000 and write a cheque to yourself for say £4900 once you receive the cheque book !