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Thank you response. Yes I signed some paperwork emailed to me and returned to the company, then details of of my JV investments indicating my JV properties where emailed to me which I printed out and kept, however, contact from the company has been very limited.
Initially, I joined a company and got two JV properties which later were confirmed to be sub standard properties then the company went into Administration and now Liquidation. At time the initial company holding my two JVs on sub standard properties went into Adminstration, the Company they were apparantly sourcing customers all investors and promised to take over all JVs and reapply our funds to New Build Properies in order secure all JVs investments.This was in July 2014 and as to date, I have not be applied any new properties despite continuance requests from me. I was told they are awaiting CH1 documentation from the Land Registry. I do have two properties of new build of which I have the address details of the JV investment. I really am seeking advice on how to proceed to secure my investments of all my life savings.
I wait to hear from you.
I was given Land Registry Documents and my name is ***** ***** a Charge however, the ones obtained through the Liquidated Company, although I was also given Land Registry documents properties, but there were problems with those property in that a Mortgage Company took them over which was why the company they sourced to allocate all investors with New Build properties in equivalence to each JV. The problem is that a year, no such properties have materialised and when every I email them , their response is always that they are awaiting comeback from the Land Registry. I am getting worried in case, subsequent to allocating me with the promised two New build properties, they then go into liquidation. The property market is presently slow and I am really anxious.
Are there any recourse to follow?
Are you still dealing with my enquiry, AJ?
On the basis that due to the bankruptcy to the first company, and the recall from the Mortgage company, all investors received correspondence to the effect that they were recall the loan in and properties are to be sold to recover their returns, we received an email correspondence from the second company to advise that in order to ensure security of investments, funds from those properties would be transferred to new build properties and provided they could confirm my transfer, then I may not be too anxious about the whole matter.
Not my debt but my name as an investor.
I was unable to respond due ti technical problems. The answer to your question is that there are a few sales men selling the product but all properties are being mortgaged by the the company under the name of the director. In other words, the properties are mortgaged under his company name and each JV investment is applied as a charge on the property under my name and various other investors. The sales peach stated that investments are secured on the properties and can only be sold with your consent at which time your invested fund together with your profit share would then be paid to the investor. However, due to the bankruptcy of the first company, I am worried in case the other company also declare bankruptcy. They seemed legit as they are registered as a limited company in Company House which is no guarantee but I wish to know if there any legal steps to take to aid recovery of my capital.
As this is all my fee of £38 covers, I wait response and take this opportunity to thank you help.