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Alex J.
Alex J., Solicitor
Category: Property Law
Satisfied Customers: 3670
Experience:  Two years conveyancing experience.
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I own a small retail unit that I am currently running as a

Customer Question

I own a small retail unit that I am currently running as a sandwich shop. It has been up for sale as a business for 6 months. The business was set up as a limited company by my son and I am a director of the company. Unfortunately he and his girlfriend have fallen out with me and no longer communicate. Can I resign and sell my property as I have had interest from a friend? There is no lease.
Submitted: 3 years ago.
Category: Property Law
Expert:  Alex J. replied 3 years ago.
Hi,
Thank you for your question and welcome.
My name is ***** ***** I will assist you.
Who owns the limited company?
How often is the rent paid? Is it quarterly?
Kind regards
AJ
Customer: replied 3 years ago.

The company was set up by my son and was to be a three way equal split between him, myself and his girlfriend. i have no record of shares allocated. Rent is meant to be paid monthly. the accountant told me that his tax rebate for vat of 5000 was to be left in the account for one year. I have no access to the account. i pay in enough from takings to cover bills and the rest goes to pay my own bills as he has told me i will not get paid by him. i don't know what to do? i feel i am wrong not to pay all money into the account but i need to pay my bills- i open the shop from tues to fri and there is not enough money coming in to pay me rent and a wage which was to be 400 rent and 600 wage monthly.

Expert:  Alex J. replied 3 years ago.
Hi,
Thank you.
The only way to remove them is to serve notice under S.25 of the Landlord and Tenant Act 1954.
This means that you have to give them a minimum of 6 months notice.
Are you saying that you have not been paid any rent?
Kind regards
AJ
Alex J. and other Property Law Specialists are ready to help you
Customer: replied 3 years ago.

Thank you

they do not occupy the building only me.

I have had no rent since the business was put on the market

I alone own the building. I want quit the business and sell the building not the business to my friend.

they have no interest in working in the shop if I quit

is it legal for me to do this

kind regards

joan

Expert:  Alex J. replied 3 years ago.
Hi,

Thank you.

You have no obligation to remain as a director of the company.

What I suggest you do is serve the notice and then get them to agree that the company will give written notice to you that it will give up possession of the property immediately.

That way you wont have to wait six months.

I look forward to hearing from you.

Kind regards

AJ