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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 30896
Experience:  Over 5 years in practice
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Three owners of a 5 flat leasehold property have just

Customer Question

Three owners of a 5 flat leasehold property have just acquired the freehold. The freehold is held by the company we set up to acquire the freehold and we each have 1/3 of the shares in this company.
One if the non-participating flat owners now wants to buy a share of the freehold and the other non participating owner is in the process of selling and their buyer wants to buy a share of the freehold.
We have a price and both have agreed to this price.
What legal steps do we need to take to effect these two sales of a. share if the freehold?
Andy McQuin ***********
Submitted: 4 months ago.
Category: Law
Expert:  Aston Lawyer replied 4 months ago.

Hi Andy,

Thanks for your enquiry.

I take it that the Company is limited by Shares (ie you 3 have 1 share each) or is it limited by guarantee? I could do with looking at the Memorandum and Articles of Association of the Company, so if you could let me know the name of the Management Company I can check this via Companies House.

I look forward to hearing from you.

Al

Customer: replied 4 months ago.
The company is called EAL Property Limited. Company number 08254167, registered offices Units 3 & 4 Cricted Mews, 286/288 Croxted Road, London SE249DA.
Regards,
Andy
Expert:  Aston Lawyer replied 4 months ago.

Thanks Andy. If you could give me 30 mins or so and I will come back to you.

Al

Customer: replied 4 months ago.
No problem.
Andy
Expert:  Nicola-mod replied 4 months ago.
Hello,
It seems the professional has left this conversation. This happens occasionally, and it's usually because the professional thinks that someone else might be a better match for your question. I've been working hard to find a new professional to assist you with your question, but sometimes finding the right professional can take a little longer than expected.
I wonder whether you're OK with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Nicola
Customer: replied 4 months ago.
I'm happy to wait.
Andy
Expert:  Nicola-mod replied 4 months ago.
Hello,
We will continue to look for a Professional to assist you.
Thank you for your patience,
Nicola
Expert:  Nicola-mod replied 4 months ago.
Hello,
I apologise as we have not yet been able to find a Professional to assist you. Do you wish for me to continue to search for someone to assist you or would you like for us to close your question at this time?
Thank you for your patience,
Nicola
Expert:  Nicola-mod replied 4 months ago.
Hello,
Please understand it is rare for us not to be able to find the right Professional to assist our customers. We can close this question and return your good faith deposit to the original funding source on request.
Please let me know how you wish to proceed and again I apologize for any inconvenience this may have caused.
I hope you will give JustAnswer a try again in the future,
Nicola

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