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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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As a fishing debenture holder with a lease of 999 years, I

Resolved Question:

As a fishing debenture holder with a lease of 999 years, I have just been informed by a club member that the person who owns the fishing club and who also sold us the debenture has sold off a large section of land with a clubhouse and is also planning to sell off another lake without any notification to any of the members. Is this legal? also can this be stopped by the debenture holders/members.
Submitted: 3 years ago.
Category: Law
Expert:  UKSolicitorJA replied 3 years ago.
Hello,

You need to check the terms of the debenture, if you have a first legal charge over all the land and assets of the club, then the owner of the club should not be able to sell the land without your consent.

I would have assumed that a legal charge would have been registered against the land at the Land Registry so that no part of it could be disposed off without the consent of the debenture holders.

If not, you need to act quickly to register the debenture charge at the Land Registry to stop and dealing with the land without your consent.

I suggest you see a solicitor as soon as possible to review you debenture and advise you accordingly if you are not able to do it yourself as you need to act fast.

Or you may have to go to court as a last resort for some remedy otherwise e.g. Against the club owner for damages if they are in breach of the debenture terms.

Hope this helps
Customer: replied 3 years ago.
I have checked he debenture certificate and there are no details relating to the rights of debenture holder or the club owner, only membership details. Is there any way to find out what terms and conditions were attached to sale of the club if so where might that information be available, Is this something the land registry would hold?
Expert:  UKSolicitorJA replied 3 years ago.
They may do, or they may not.

It is unlikely they will.

You really need to get a solicitor to look at the paperwork and advise you on the way forward as this is a Q&A site not designed to replace a solicitors firm.

Hope this clarifies
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