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    • planes
    • By planes 14th Mar 18, 6:22 AM
    • 20Posts
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    planes
    Lessor for a freehold in liquidation -what happens
    • #1
    • 14th Mar 18, 6:22 AM
    Lessor for a freehold in liquidation -what happens 14th Mar 18 at 6:22 AM
    I am looking to buy a freehold residential property but where the garage is located under next doors property, coach house style, and subject to a leasehold agreement.

    However the original lessor was bought by another company which in turn has gone into liquidation.

    Does that mean the original lease ceases or the terms of the lease can no longer be applied as there is no-one obvious to contact?

    What happens in this instance and if still live how do I find out?

    If it has ceased could it ever be re-instated by someone else -if so how?

    It was stated in the lease that the lessee would have to pay a peppercorn rent but no rent has ever been asked for or paid according to the property vendor.

    Any help advice appreciated
Page 1
    • AdrianC
    • By AdrianC 14th Mar 18, 8:14 AM
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    AdrianC
    • #2
    • 14th Mar 18, 8:14 AM
    • #2
    • 14th Mar 18, 8:14 AM
    The lease has no more "ceased to exist" than if it was owned by a dead person. The assets of the business would have been distributed on the liquidation, and they include the lease.
    • davidmcn
    • By davidmcn 14th Mar 18, 9:03 AM
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    davidmcn
    • #3
    • 14th Mar 18, 9:03 AM
    • #3
    • 14th Mar 18, 9:03 AM
    However the original lessor was bought by another company which in turn has gone into liquidation.
    Originally posted by planes
    When you say it "has gone into liquidation" do you mean it is currently still in liquidation? What is the company's status on Companies House? Where are you getting your information about who the freeholder is?
    • planes
    • By planes 14th Mar 18, 9:13 AM
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    planes
    • #4
    • 14th Mar 18, 9:13 AM
    • #4
    • 14th Mar 18, 9:13 AM
    Companies house has it noted as in liquidation. This shows they still have some land to sell hence its status -It started being wound up in 2009 so taking forever to complete the process.


    Its a bit complicated as the freehold property is above 3 garages 2 of which relate to other properties and 1 to the freehold property itself -the other 2 garages are subject to the same leasehold agreements.


    The original lease I therefore assume must still reside as part of the assets of the lessor limited co which is in liquidation?


    I suppose I could ask to see about acquiring the lease agreement myself?
    • davidmcn
    • By davidmcn 14th Mar 18, 9:18 AM
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    davidmcn
    • #5
    • 14th Mar 18, 9:18 AM
    • #5
    • 14th Mar 18, 9:18 AM
    The original lease I therefore assume must still reside as part of the assets of the lessor limited co which is in liquidation?
    Originally posted by planes
    Yes, the lease doesn't disappear in a puff of smoke. The liquidators are the ones who are currently in the freeholder's shoes - so any enquiries should go to them. Though they're not necessarily going to be very responsive to anything other than "can I buy this from you?".
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